Chapter 1,2,3 intro to Management: Strategy, Ethics, and Organizational Alignment

Vocabulary flashcards reviewing core management topics including SWOT analysis, PESTEL factors, Porter's Five Forces, VRIO framework, ethical analysis, and organizational alignment.

SWOT Analysis Components

A framework dividing strategic factors into internal elements (Strengths and Weaknesses) and external elements (Opportunities and Threats) to evaluate a firm's position.

Firm Environment Model

A model depicting three concentric levels: Internal Environment (Owners, Managers, Employees), Micro Environment (Customers, Competitors, Suppliers, Intermediaries), and Macro Environment (Sociocultural Trends, Government, Economy, Globalization, Technology, Laws, Demographics, Environment).

PESTEL Model

An external environmental analysis framework evaluating Political, Economic, Sociocultural, Technological, Environmental, and Legal factors.

Porter's Five Forces Model

A model of industry competition assessing Threat of New Entrants, Supplier Power, Buyer Power, Threat of Substitutes, and Industry Rivalry.

VRIO Framework

A tool evaluating firm resources and capabilities by checking if they are Valuable, Rare, Difficult to Imitate, and Organized to Capture Value.

Levels of Ethical Analysis Framework

A framework classifying ethics across three levels—Ethics of the System, Ethics of the Organization, and Ethics of the Person—evaluated through Descriptive, Normative, and Analytical dimensions.

Strategic Organizational Alignment Model

A diamond framework linking Vision, Mission, and Values to product/service offerings, targeted customers, and core competencies.

Role of Culture in Organizational Alignment

The central integrating element connecting Vision and Strategy, Structure, Technology, Nature of Work, Measurement Systems, and People to turn Customer Requirements into Customer Satisfaction.

Stakeholder Map

A diagram mapping reciprocal interactions between a firm and various internal and external stakeholders, including Owners, Government, Customers, Employees, and Activist Groups.

Political Factors (PESTEL)

Tax rates, tariffs, trade agreements, labor regulations, and environmental regulations.

Economic Factors (PESTEL)

Employment levels, interest rates, and exchange rates.

Sociocultural Factors (PESTEL)

Demographic trends, consumer preferences, and market diversity.

Technological Factors (PESTEL)

The internet, smartphones, connectivity, and automation.

Environmental Factors (PESTEL)

Resource scarcity, recycling, and alternative energy sources.

Legal Factors (PESTEL)

Contracts, laws, and intellectual property rights.

Vision

The strategic direction component answering the core questions: 'Who are we? Who will we become?'

Mission

The strategic direction component answering: 'What is our strategic purpose for operating?'

Values

The principles answering: 'What do we stand for and believe in? What standards can be used to evaluate and judge us?'

Code of Ethics

Formal competency and ethical guidelines framed, distributed, or posted by an organization to guide behavior and shape organizational culture.

Workplace Unethical Activities

Actions such as taking property, lying, false impressions, conflict of interest, information withholding/divulging, taking unfair advantage, abusing power, rule violations, and condoning unethical actions.