Strategic Management and Organizational Change

A series of flashcards designed to help review key concepts in strategic management and organizational change.

What is strategic positioning?

The attempt to achieve sustainable competitive advantages by preserving what is distinctive about a company, performing different activities from rivals, or performing similar activities in different ways.

What are the levels of strategy in organizations?

Corporate-level strategy focuses on the organization as a whole, business-level strategy focuses on individual business units or product lines, and functional-level strategy is a plan of action for each functional area to support higher level strategies.

What is the first step of the strategic-management process?

Establishing the Mission, Vision, and Values of the organization.

What does a SWOT analysis assess?

It assesses a company's strengths, weaknesses, opportunities, and threats.

What are Porter's Five Competitive Forces?

1. Threats of New Entrants 2. Bargaining Power of Suppliers 3. Bargaining Power of Buyers 4. Threats of Substitute Products or Services 5. Rivalry among Competitors.

What is the importance of strategic control?

Monitoring the execution of strategy and making necessary adjustments to keep strategic plans on track.

What is the difference between adaptive change and radically innovative change?

Adaptive change is a reintroduction of a familiar practice, while radically innovative change involves introducing a completely new practice to the industry.

What are the three stages of Lewin's Change Model?

1. Unfreezing (creating motivation to change) 2. Changing (learning new ways) 3. Refreezing (making new behavior normal).

What is organizational culture?

A set of shared, taken-for-granted implicit assumptions that a group holds, which determines how it perceives, thinks about, and reacts to various environments.

What is the role of human resources practices in organizations?

They consist of activities used to manage human capital, including selection, training and development, employee relations, and performance management.

How does organizational socialization occur?

Through three phases: anticipatory socialization (before joining), encounter phase (when first hired), and change and acquisition phase (after developing a strong understanding of the work role).