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