Management Exam 2

Strategic Control

_______ consists of monitoring the execution of strategy and making adjustments, if necessary. Managers need control systems to monitor progress and take corrective action, early and rapidly, when things tart to go awry.

Market Culture

_______ has a strong external focus and values stability and control. -focused on external environment -driven by competition -strong desire to deliver results.

Clan Culture

_______ has an internal focus and values flexibility rather than stability and control. -Family type organization -encourages collaboration -encourages cohesion -view customers as partners

Decision making

_________ is the process of identifying and choosing alternative courses of action.

Organizational Strengths

_________ is the skills and capabilities that give an organization special competencies and competitive advantages in executing strategies in pursuit of its vision.

Analytics

_________, or business _______, the term used for sophisticated forms of business data analysis. Ex. - Portfolio analysis, time series forecast

Strategic Human resource planning

__________ consists of developing a systematic, comprehensive strategy for (a) understanding current employee needs and (b) predicting future employee needs.

Market

__________ cultures tend to product better results.

Diagnosis

__________ is analyzing the underlying causes.

External recruiting

__________ means attracting job applicants from outside the organization. Done through: -newspapers -employment agencies -executive recruiting firms -union hiring halls -college job placement offices. -word of mouth. Ex. LinkedIn

Job posting

__________, placing information about job vacancies and qualifications on bulletin boards, in newsletters, and on the organization's intranet.

Satisficing model

(Herbert Simon) _______ says that managers seek alternatives until they find one that is satisfactory, not optimal.

true

(true or false) Strategic planning works for both large and small companies.

Background Info, interviewing, employment tests

the three types of selection tools are?

forecast

A ________ is a vision or projection of the future.

Inside matters, outside matter

The SWOT analysis is divided into two parts, _________ and ______. Internal strengths and weaknesses and external opportunities and threats.

System 2

(Deals with Decision Making) Is our slow, deliberate, analytical, and consciously effortful mode of reasoning, which swings into action when we have to fill out a tax form or park a car in a narrow space.

System 1

(Deals with Decision Making) Operates automatically and quickly, it is our fast, automatic, intuitive, and largely unconscious mode.

7 Implementation Principles

(Deals with Implementation) 1) Treat your organization as an unfinished prototype. 2) No brag, just facts. 3)See yourself and your organization as outsiders do. 4) Evidence-based management is not just for senior executives. 5) Like everything else, you still need to sell it. 6) If all else fails, slow the spread of bad practice. 7) the best diagnostic question: What happens when people fail?

Why evidence based is hard

(Deals with evidence based) 1) theres too much evidence. 2) theres not enough good evidence. 3) the evidence doesn't quite apply. 4) People are trying to mislead you. 5) you are trying to mislead you. 6)the side effects outweigh the cure. 7) stories are more persuasive, anyways.

bounded Rationality

(Herbert Simon) _______ , is the concept that suggests that the ability of decision makers to be rational is limited by numerous constraints, such as complexity, time and money, and their cognitive capacity, values, skills, habits, and unconscious reflexes.

Human Resource Inventory

(Likely sources for staffing) _________, a report listing your organization's employees by name, education, training, languages, and other important information.

Ethics, feasibility, Effectiveness

(Stage 3) When evaluating alternatives and selecting a solution, you should select an alternative not only according to cost and quality but also according to the factors or _______, _________, and ________.

Plan carefully, Be sensitive to those affected

(Stage 4) For implementation to be successful, you need to do two things, _________ and ________.

Job analysis

(Understanding Current employee Needs) the purpose of __________ is to determine, by observation and analysis, the basic elements of a job. -requires specialists interviewing occupants about what they do. -observe the flow of work, and learn how results are accomplished.

Job specification

(Understanding current employee needs) ________, describes the minimum qualifications a person must have to perform the job successfully.

Prescriptive

(Whats wrong with the Rational Model?) The rational model is ________, describing how managers ought to make decisions. It doesn't describe how managers actually make decisions.

Questions for a Proposed Action

(When confronted with a proposed action managers should ask the following questions) 1)Is the proposed action legal? 2) If yes, does the proposed action maximize shareholder value? 3) If yes, is the proposed action ethical? 4) If no, would it be ethical not to take the proposed action?

Job description

(understanding current employee needs) _____________ , summarizes what the holder of the job does and how and why he or she does it.

Benefits of Intuition

1) It can speed up decision making, useful when deadlines are tight. 2) It can be helpful to managers when resources are limited.

Sources of Competitive Intelligence

1)Public prints and advertising. (press release, advertising piece, news leak, or the like.) 2)Investor Information (Reports filed with the securities and exchange commission through annual reports) 3)Informal sources

3 principles of strategic positioning

1)few needs, many customers 2)Broad needs, few customers. 3)Broad needs many customers.

Knowledge Worker

A _______ is someone whose occupation is principally concerned with generating or interpreting information, as opposed to manual labor. -add value to the organization.

Mission and Goals

The purpose of the strategic human resource process, is to get the optimal work performance that will help the company's ______________.

observable artifacts, espoused values, basic assumptions

The three layers of organizational culture are?

For profit, Nonprofit, Mutual benefit

The three types of organizations are?

trend analysis, contingency planning

Two types of forecasting are ___________ and _________.

Clan, Adhocracy, Market, Hierarchy

What are the four classifications of organizational culture?

vertical hierarchy of authority(who reports to whom), horizontal specialization(who specializes in what work)

What are the two things given to you by organization charts?

Employment tests

________ are legally considered to consist of any procedure used in the employment selection decision process, even application forms, interviews, and educational requirements.

Human Resource Management

________ consists of the activities managers perform to plan for, attract, develop, and retain an effective workforce.

Unstructured Interview

________ involves asking probing questions to find out what the applicant is like. There is no fixed set of questions asked of all the applicants and no systematic scoring procedure.

Organization Chart

________ is a box and lines illustration showing the formal lines of authority and the organization's official positions or work specializations.

Organizational Structure

________ is a formal system of task and reporting relationships that coordinates and motivates an organization's members so that they can work together to achieve the organizations goals. goals. (Concerned with who reports to whom and who specializes in what work.)

Decision Tree

________ is a graph of decisions and their possible consequences; it is used to create a plan to reach a goal. They are used to aid in decision making

Story

________ is a narrative based on true events, which is repeated-- and sometimes embellished upon to emphasize a particular value. -oral histories told by members of an organization

situational interview

________, the interviewer focuses on hypothetical situations.

Structured Interview

________Involves asking each applicant the same questions and comparing their responses to a standardized set of answers. Ex. situational interview, behavioral description interview

Organizational Culture

_________ , also sometimes called corporate culture, is defined as the set of shared, taken-for-granted implicit assumptions that a group holds and that determines how it perceives, thinks about, and reacts to its various environments. (The social glue that binds members of an organization together.)

Enacted Values

_________ , represent the values and norms actually exhibited in the organization.

behavioral description interview

_________ , the interviewer explores what applicants have actually done in the past.

observable artifacts

_________ are physical manifestations such as Manner of dress, awards, myths and stories about the company, rituals and ceremonies, and decorations as well as visible behavior exhibited by managers and employees.

Espoused Values

_________ are the explicitly stated values and norms preferred by an organization, as may be put forth by the firm's founder or top managers.

hero

_________ is a person whose accomplishments embody the values of the organization.

Vision

_________ is an organizations long-term goal describing what it wants to become, and it is expressed in a vision statement.

Human Capital

_________ is the economic or productive potential of employee knowledge, experience, and actions.

Basic Assumptions

__________, represent the core values or an organization's culture-- those that are taken for granted and, as a result, are difficult to change . (Not observable)

Rites and Rituals

___________ are activities and ceremonies, planned and unplanned, that celebrate important occasions and accomplishments in the organizations life.

Recruiting

___________ is the process of locating and attracting qualified applicants for jobs open in the organization.

Realistic Job Preview

____________ gives candidate a picture of both positive and negative features of the job and the organization before he or she is hired. -very effective in reducing turnover

Organization Opportunities

________ are environmental factors that the organization may exploit for competitive advantage.

Vertical hierarchy

this is the chain of command. It also shows the official communication network- who talks to whom.

Strategic Management Process

1) Establish the mission and the vision. 2) Assess the current reality. 3)Formulate the grand strategy 4)Implement the strategy. 5)Maintain strategic control.

Stages of the Rational Model

1) Identify the problem or opportunity. 2) think up alternative solutions. 3) Evaluate alternatives and select a solution. 4)Implement and evaluate the solution chosen.

Employee referrals

In general, the most effective sources of external recruiting are __________.

Competitive Intelligence

Practicing ___________ means gaining information about ones competitors' activities so that you can anticipate their moves and react appropriately.

Strategy Implementation

Putting strategic plans into effect is ____________.

Internal Recruiting

_______ means making people already employed by the organization aware of job openings. -done through job postings

systems of decision making

System 1 - Intuitive and largely unconscious System 2- analytical and conscious

Selection process

_______, the screening of job applicants to hire the best candidate. -essentially becomes an exercise in prediction.

vision statement

What should stretch an organization and its employees to achieve a desired future state that appears beyond its reach?

Evaluation

What should you do if the action chosen is not working? 1) give it more time 2) Change it slightly 3) Try another alternative 4) Start over

Fit

_____ has to do with the ways a company's activities interact and reinforce one another.

Decision

_____ is a choice made from among available alternatives

Person Organization fit

_____ reflects the extent to which your personality and values match the climate and culture in an organization.

Ethics Officer

______ , is someone trained about matters of ethics in the workplace, particularly about resolving ethical dilemmas. Value statements, are also another way companies guide employees as to what constitutes desirable business behavior.

Problems

______ are difficulties that inhibit the achievement of goals. Such as customer complaints, supplier breakdowns, staff turnover, sales shortfall, competitor innovations.

Organizational Threats

______ are environmental factors that hinder an organization's achieving a competitive advantage.

Opportunities

______ are situations that present possibilities for exceeding existing goals.

Adhocracy culture

______ has an external focus and values flexibility. -attempts to create innovative products by being adaptable, creative, quick to respond to changes in the market place. -employees encouraged to take risks -well suited for start up companies.

hierarchy culture

______ has an internal focus and values stability and control over flexibility. -have formalized, structured work environments aimed at achieving effectiveness through a variety of control mechanisms.

Organization

______ is a system of consciously coordinated activities or forces of two or more people.

Environmental Scanning

______ is careful monitoring of an organizations internal and external environments to detect early signs of opportunities and threats that may influence the firm's plans.

Mission

______ is the organizations purpose or reason for being. It is expressed in the mission statement.

Strategy formulation

______ is the process of choosing among different strategies and altering them to best fit the organizations needs.

Ability tests

______ measure physical abilities, strength and stamina, mechanical ability, mental abilities, and clerical abilities.

Current reality assessment

______ or organizational assessment to look at where the organization stands and see what is working and what could be different so as to maximize efficiency and effectiveness in achieving the organizations mission.

Rational Model

_______ , also called the classic model, explains how managers should make decisions; it assumes managers will make logical decisions that will be the optimum in furthering the organizations best interests. Typically there are four stages associated with this model/process.

Nonrational models of decision making

_______ Explain how mangers make decision; they assume that decision making nearly always uncertain and risky, making it difficult for managers to make optimal decisions.

Organizational Weaknesses

_______ are the draw backs that hinder an organization in executing strategies in pursuit of its vision.

culture

_______ can powerfully shape an organizations long term success by enhancing its competitive advantage.

Grand strategy

_______ comes after the assessment of the current reality, explains how the organizations mission is to be accomplished. The three common ___________ are growth, stability, and defensive.

Symbol

_______ is an object, act, quality, or event that conveys meaning to others. In an organization they convey its most important values.

Intuition

_______ is making a choice without the use of conscious thought or logical inference. When it stems form expertise it is known as a holistic hunch. When it is based on feelings it is known as automated experience.

Social Capital

_______ is the economic or productive potential of strong, trusting, and cooperative relationships. Ex. -goodwill -mutual respect -cooperation -trust -teamwork

Background Info

applications forms such as resumes provide basic _______ about job applicants, such as citizenship, education, work history, and certifications.

strategic positioning

attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company.

Mission statement

the following is an example of what? To serve the worldwide need for knowledge at a fair profit by gathering, evaluating, producing, and distributing valuable information in a way that benefits our customers, employees, authors, investors, and our society.

Clan

employees are happier with ________ cultures.

Swot analysis

the process for doing environmental scanning is ____________. Also known as Situational Analysis. (Strengths, weaknesses, opportunities, threats)