management 2

strategies

what managers do to develop an organization's startegies

strategies

plans for how an organization will do what it's in business to do, ho it will compete successfully, and how it will attract an satisfy its costumers in order to achieve its goals

business model

a design for how a company os going to make money

strategic management process

a 6 step process that encompasses startegic planning, implementation, and evaluation

strategic management steps 1-6

1. identify current mission, goals, and strategies2. do external analysis3. do internal analysis4.formulate strategies5. implement strategies6. evaluate resuls

mission

a statement of the purpose of the organization

oppportunities

positive trends in external enviornmental factors

threats

negative trends in external enviornmental factors

resources

an organizations assets that are used to develop, manufacture, and deliver products to its costumers

capabilities

an organizations skills and abilties in doing the work activities needed in its business

core competencies

the organizations major value creating capabilities that determine its competitive weapons

strengths

any activities an organization does well or any unique resources that it has

weaknesses

any activities an organization does not do well or resources it needs but it does not posses

SWOT analysis

An analysis of an organization's strengths, weaknesses, opportunities, and threats

corporate strategy

an organizational strategy that specifies what businesses a company is in and what it whant to do with thosebusinesses

growth startegy

a corporate strategy that is used when an organization whants to expand the numbers of markets served or products offered, either throug it current business or though new business

stability strategy

a corporate strategy in which an organization continues to do what it is currently doing

renewal strategy

a corporate strategy designed to address declining perfomance

BCG matrix (boston consulting group)

a strategy tool that guides resource allocation decisions on the basis of market share and growth rate of SBU's

competitive strategy

an organizational strategy for how an organization will compete in its business

strategic business units SBUs

the single businesses of an organization that are independent and formulate their own competitive strategy

competitive advantage

the factor that sets an organization apart; its distinctive edge

functional strategies

the strategies used by an organiations various functional departments to support organizations competitive strategy

strategic flexibility

the ability to recognize major external changes, to quickly commit resources, and to recognize when a stratwgic desicion was a mistake

first mover

an organization that is first to bring a product innovation to market or to use a new process innovation

group

two or more interactive or independan individuals who come together to achieve specific goals

forming stage

the 1st stage of group develop ment, in which people join the group and then define the groups purpose, structure, and leadership

storming stage

the 2nd stage of group development, which is characterized by intragroup conflic

norming stage

3rd stage of group development, which is characterized as close relationships and cohesiveness

perfoming stage

4th stage of group development, when the group is functional and works on the groups task

adjouring stage

5th/ final stage of group development for temporary groups, during which group members are concerned with wrapping up activities rather that task perfomance

role

behavioral patterns expected of someone occupying a give position in a social unit

norms

Standards or expectations that are accepted and shared by a group's members

groupthink

a phenomenon in which a group exerts extensive preassure on an individual to align his opinion with others opinions

status

a prestige grading position, or rank with in a group

social loafing

the tendency for individuals to expend less effort when working collectively than when working individually

group coheseveness

the degree to which group memebers are attracted to one an other and share the group's goals

conflic

percived incompatible, differences that result in interference or opposition

traditional view of conflict

the view that all conflict is bad and must be avoided

human relations view of conflict

the view that conflict is natural and inevitable outcome in any group

interactions viw of conflic

the view that some conflict is necessary for a group to perform effectively

functional conflicts

conflicts that support a group's goals and improve its performance

dysfunctional conflicts

conflicts that prevent a group from acheiving its goals

task conflic

conflic over content and goals of work

relationship conflict

conflic based on interpersonal relationships

process conflic

conflic over how work gets done

work teams

groups whose memenbers work intensly on a specific common goal, using their positive synergy, individual and mutual compatability, and complementary skills

problem solving team

a team from the same depeartment or functional area that's involved in efforts to improve work activities or to solve specific problems

self managed work teams

a type of work team that operates with out a manager and is reposible for a comple work process or segment

cross functional team

a work team composed of individuals from various specialities

virtual team

a type of work team that uses technoligy to link physically dispersed memebers in order to achieve a goal

social network structure

the paterns of informal connections among individuals within a group

leader

a person who can influence others and who has managerial authority

leadership

a process of influencing a group to achieve goals

behavioral theory

leadership theory that idnetifies behaviors that differentiate effective leaders from ineffective leaders

autocratic style

a leader who dictates work methods, makes unilateral desicions, and limits employee participation

demecratic style

a leader who involves emplyees in decision making, delegates authority, and uses feedback as an opportunity for coaching employees

laissez-faire style

a leader who lets the group make decisions and complete the work in whatever way it sees it fit

initiating structure

the extenct to which a leader defines his role and the roles of the group memebers in attaining goals

consideration

the extent to which a leader has work realitonships characterized by mutual trust and respect for group memeber's ideas and feelings

high-high leader

a leadier high in both initiating structure and consideration behaviors

managerial grid

a teo demensional grid for appaising leadership styles

Fiedler contingency model

a leadership theory whic proposed the effective group performance dependant on the proper match between a leader's styler and the degree to which the situation allowed the leader to control the influence

least prefered coworker questionnaire

a questionnaire that measured wheather a leader was task or relationship oriented

leader memeber relations

on of Fiedlers situational contingencies that described the degree of confidence, trut, and respect employees had for their leader

task structure

one of Fiedler's situational contingencies that described the degree to which job assignment were formalized and structured

position power

one of Fiedler's situational contingencies that described the degree of influence a leader had over activities such as hiring, fiering, promotion, and salary increase

situational leadership theory

a leadership contingency theory that focuses on followers readiness

readiness

the extenct to which people have the ability ann willingness to accomplish a specific task

path goal theory

a leadership theory that says the leader's job is to assists followers into attaining their goals and to privide direction or support needed to ensure that their goals are compatibles with the goals of the group or organization

transactional leader

leaders who lead primarily by using social exchanges

transformational leaders

leaders who stimulate and inspier followers to achive extraordinary outcomes

charismatic leaders

enthusiastic, self-confident leaders whos personalitites and actions influence people to behave in certain ways

visionary leadership

the ability to create and articulate a realistic, credible and attractive vision of the future that improves on the present situation

legitamate power

the power a leader has as a result of his position in the organization

coercive power

the power a leader has to punish or control

reward power

the power a leade has to give positive rewards

expert power

the power thats based on experties, special skills, or knowledge

referent power

power that arises because of a persons desirable resources or personal traits

credibility

the degree to which followers percive someone as hones, competent, and able to inspire

trust

the beliefe in the integrity, character and ability of a leader

empowerment

the act of increasing the decision-making discretion of workers