Mana 4322 Exam 1 Flashcards | Quizlet

romantic view of leadership

situations in which the leader is the key force detemining the organization's success -- or lack thereof

external control view of leadership

situations in which external forces -- where the leader has limited influence -- determine the organization's success

strategic management

the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages

competitive advantage

a firm's resources and capabilities that enable it to overcome the competitive forces in its industry(ies)

operational effectiveness

performing similar activities better than rivals

ambidexterity

the challenge managers face of both aligning resources to take advantage of existing product markets and proactively exploring new opportunities

realized strategy

strategy in which organizational decisions are determined by both analysis and unforeseen environmental developments, unanticipated resource constraints, and/or changes in managerial preferences

corporate governance

the relationship among various participants in determining the direction and performance of corporations. the primary participants are (1) the shareholders, (2) the management (led by the chief executive officer), and (3) the board of directors

triple bottom line

assessment of a firm's financial, social, and environmental performance

perceptual acuity

the ability to sense what is coming before the fog clears

environmental scanning

surveillance of a firm's external environment to predict environmental changes and detect changes already under way

environmental monitoring

a firm's analysis of the external environment that tracks the evolution of environmental trends, sequences of events, or streams of activities

competitive intelligence

a firm's activities of collecting and interpreting data on competitors, defining and understanding the industry, and identifying competitors' strengths and weaknesses

scenario analysis

an in-depth approach to environmental forecasting that involves experts' detailed assessments of societal trends, economics, politics, technology, or other dimensions of the external environment

SWOT analysis

a framework for analyzing a company's internal and external environments and that stands for strengths, weaknesses, opportunities, and threats

economies of scale

decreases in cost per unit as absolute output per period increases

switching cost

one-time costs that a buyer/supplier faces when switching from one supplier/buyer to another

value-chain analysis

a strategic analysis of an organization that uses value-creating activities

resource-based view of the firm

perspective that firms' competitive advantages are due to their endowment of strategic resources that are valuable, rare, costly to imitate, and costly to substitute

casual ambiguity

a characteristic of a firm's resources that is costly to imitate because a competitor cannot determine what the resource is and/or how it can be re-created

social complexity

a characteristic of a firm's resources that is costly to imitate because the social engineering required is beyond the capability of competitors, including interpersonal relations among managers, organizational culture, and reputation with suppliers and customers

balanced scorecard

a method of evaluating a firm's performance measures from the customer, internal, innovation and learning, and financial perspectives

intellectual capital

the difference between the market value of the firm and the book value of the firm, including assets such as reputation, employee loyalty and commitment, customer relationships, company values, brand names, and the experience and skills of employees

explicit knowledge

knowledge that is codified, documented, easily reproduced, and widely distributed

t-shaped management

people's dual focus on the performance of their unit (the vertical part of the T) and across boundaries (the horizontal part of the T)