Principles of Management Chapter 5,6,7,8

What Is The Importance of Strategic Management

It has a positive impact on organizational performance, prepares managers to cope with changing situations, It guides managers to examine relevant factors in planning future Action

What are the steps in the strategic management process

1. Identify the organization's current mission goals and strategies, 2.SWOT Analysis, either External analysis, opportunities and threats, Internal analysis, Strengths and weaknesses, 3. Formulate strategies, 4. implement strategies, 5. Evaluate results

What is External Analysis?

Competition, Components of environment, threats and opportunities.

What is Internal Analysis?

Resources, Capabilities, Core competencies, Organizational Strengths and weaknesses

What is Formulating Strategies?

Corporate, Business, Functional,

How do you evaluate your results?

How effective have strategies been?, What adjustments are necessary?

What is Stability Strategy?

organizations continues to do what it's doing

What is Renewal Strategy?

Organization addresses declining organizational performance, Retrenchment, Turnaround

What is Growth Strategy?

An organization expands the number of markets served or products offered, Concentration, Vertical integration, Horizontal Integration, Diversification.

What is competitive strategy?

A strategy for how an organization will compete in its business, What sets an organization apart its distinctive edge that comes from its core competencies and resources

What is functional strategy?

Those strategies used by an organization's various functional departments to support the competitive strategy

What are Strategic Weapons?

Customer Service, employee skills & loyalty, Innovation, Quality, Social Media, Big data

What is Diversification?

growing by expanding into a totally different industry

What is Turnaround

Focus on more serious issues that effect the life of a business

What is management by objectives

Goal specificity, Participative decision making, explicit time period, Performance feedback

What is social media

Helps people connect, Reduce costs, and/or increase revenue

What is Big Data?

Translate business knowledge into improved decision making and performance

What are contemporary Issues?

Planning in dynamic environments, Environmental scanning

What are the steps in goal setting?

Review the organization's mission and employees' key job tasks, Evaluate available resources, Determine the goals individually or with input from others, Make sure goals are well written and communicate to all who need to know, Build in feedback mechanisms to assess goal progress,

What are the types of plans

Breadth of use, Time frame, Specificity, Frequency of use

What is breadth of use?

strategic ,tactical

What is time frame?

Long term, short term

What is specificity?

Directional,specific

What is Frequency of use?

Single-use, standing

What are the Elements of Organizational Structure?

Work Specialization, Departmenatlization, Authority and responsibility, Span of control, Centralization vs. decentralization, formalization

What are the types of departmentalization?

Functional, Product, Customer, Geographic, Process

What is Unity of Command?

A structure in which each employee reports to only one manager.

What is Authority?

A right whose legitimacy is based on an authority figure's position in the organization; it goes with the job

What is Power?

An individual's ability to influence decisions

What are the types of power?

Coercive power, Reward power, Legitimate power, expert power, Referent power

What does most effective and efficient span of control depend on?

Employee experience and training, Similarity of employee tasks, Complexity of those tasks

What is Centralization?

Decision-making takes place at upper levels of the organization

What is Decentralization?

Lower-level managers provide input or actually make decisions

What is Formalization?

How standardized an organization's jobs are and the extent to which employee behavior is guided by rules and procedures

What is the mechanistic model of organizational design?

Rigid hierarchical relationships, fixed duties, many rules, formalized communication channels, centralized decision authority, taller structures

What is the organic model of organizational design?

Collaboration, adaptable duties, few rules, informal communication, decentralized decision authority, flatter structures

What is the size of Organic designs?

Less than 2,000 employees can be organic

What is the size of Mechanistic design?

More than 2,000 employees, forces organizations to become more mechanistic

What environment is associated with a mechanistic structure?

Stable environment

What environment is associated with an organic structure?

Dynamic environment

What is a team structure?

A structure in which the entire organization is made up of work teams that do the organization's work

What is Project structure?

A structure in which employees continuously work on projects.

What is boundary-less organizations?

An organization whose design is not imposed by a predefined structure

What are current organizational design challenges?

Keeping employees connected, Managing global structural issues, Building a learning organization, Designing flexible work arrangements

What is HMR

Human resource management

What is affirmative action?

Programs that ensure that decisions and practices enhance the employment, upgrading, and retention of members of protected groups

What is the HMR process?

Employment planning, Recruitment and downsizing, selection

What is Reliability?

The degree to which a selection device measures the same thing consistently

What is validity?

The proven relationships between a selection device and some relevant criterion.

What is sexual harrasment

Any unwanted action or activity of a sexual nature that explicitly or implicitly affects an individual's employment, performance, or work environment.

What are External factors?

Marketplace, government laws and regulations, technology , labor markets, economic changes

What are internal factors?

Strategy, composition of workforce, employee attitudes

What is needed for organizational change?

A catalyst

What are the two different approaches?

"calm waters" approach, and "white-water rapids" approach

What is White-water Rapids Change?

Leading a company in change, in an industry in change

What is organization development?

Efforts that assist organizational members with a planned change by focusing on their attitudes and values

What are efforts in organization development?

Survey feedback, Process consultation, Team-Building, Intergroup development

Why is there resistance to change?

1. Uncertainty, 2. Habit, 3. Concern over personal loss 4. Belief change is not in organization's best interests

What is the common employee reaction to change?

Stress

What are some job related causes of stress?

Task demands, role demands, interpersonal demands, organization structure, organizational leadership

What are some personal causes of stress?

Family and personal issues, Personality type

What is creativity?

The ability to produce novel and useful ideas

What is innovation?

The process of taking a creative idea and turning it into a useful product, service, or method of operation

What is the innovation process?

1. Perception, 2. Incubation 3. Inspiration, 4. Innovation

What are the structural variables and innovation?

1. Organic structures, 2. Abundant resources, 3. High inter-unit communication, 4. minimal time pressure, 5. Work and non-work support