MGMT TEST 2

Strategic Moves of Direct Competition

-Attack: a competitive move designed to reduce a rival's market share or profits −A full-attack strategy can provoke harsh retaliatory responses -Response: a competitive countermove, prompted by a rival's attack, to defend or improve a company's market share or profit −Match or mirror or competitor's move −Respond along a different dimension from competitor's move

Compression approach: managing innovation during incremental change

-Compression approach to innovation: an approach that assumes that incremental innovation can be planned using a series of steps and that compressing those steps can speed innovation •Planning for incremental innovation −helps avoid unnecessary steps −enables developers to sequence steps in the right order to avoid wasted time and delays between steps −reduces misunderstandings and improves coordination -Generational change: change based on incremental improvements to a dominant technological design such that the improved technology is fully backward compatible with the older technology •Ways to shorten development time include −supplier involvement −shortening the time of individual steps −overlapping steps

Methods used to manage resistance to change

-Educate employees about the need for change •Communicate change-related information to employees •Encourage employee participation in planning and implementing change •Allow employees to discuss and agree on who will do what after the change •Offer significant managerial support •Coercion: the use of formal power and authority to force others to change

Experiential approach: managing innovation during discontinuous change

-Experiential approach to innovation: an approach to innovation that assumes a highly uncertain environment and uses intuition, flexible options, and hands-on experience to reduce uncertainty and accelerate learning and understanding •Five aspects of an experiential approach include −Design iteration −Testing −Milestones −Multifunctional teams Powerful leaders •Design iteration: a cycle of repetition in which a company tests a prototype of a new product or service, improves on that design, and then builds and tests the improved prototype −Product prototype: a full-scale, working model being tested for design, function, and reliability •Testing: systematic comparison of different product designs or design iterations •Milestones: formal project review points used to assess progress and performance •Multifunctional teams: work teams composed of people from different departments Powerful leaders keep the innovation process focused and on target through their vision, discipline, and motivation

Forms of global business

-Exporting: Selling domestically produced products to customers in foreign countries -Cooperative contract: Foreign business owner pays a company a fee for the right to conduct that business in his or her country −Licensing: an agreement in which a domestic company, the licensor, receives royalty payments for allowing another company, the licensee, to produce the licensor's product, sell its service, or use its brand name in a specified foreign market -Franchise: a collection of networked firms in which the manufacturer or marketer of a product or service, the franchisor, licenses the entire business to another person or organization, the franchisee

Trade Agreements

-General Agreement on Tariffs and Trade (GATT): a worldwide trade agreement that §reduced and eliminated tariffs §limited government subsidies §established protections for intellectual property -World Trade Organization (WTO): the successor to GATT §the only international organization dealing with the global rules of trade between nations §its main function is to ensure that trade flows as smoothly, predictably, and freely as possible -Regional trading zones: areas in which tariff and nontariff barriers on trade between countries are reduced or eliminated

Grand strategies

-Grand strategy: a broad corporate-level strategic plan used to achieve strategic goals and guide the strategic alternatives that managers of individual businesses or subunits may use •Growth strategy: a strategy that focuses on increasing profits, revenues, market share, or the number of places in which the company does business −Grow externally through merger or acquisition −Grow internally through expanding exiting business or creating and growing new businesses -Stability strategy: a strategy that focuses on improving the way in which the company sells the same products or services to the same customers -Retrenchment strategy: a strategy that focuses on turning around very poor company performance by shrinking the size or scope of the business −by making significant cost reductions by laying off employees; closing poorly performing stores, offices, or manufacturing plants −by closing or selling entire lines of products or services -Recovery: the strategic actions taken after retrenchment to return to a growth strategy

Industry-level strategies

-Industry-level strategy: a corporate strategy that addresses the question, "How should we compete in this industry?" -Character of the rivalry: a measure of the intensity of competitive behavior between companies in an industry

Organizational decline

-Organizational decline: a large decrease in organizational performance that occurs when companies don't anticipate, recognize, neutralize, or adapt to the internal or external pressures that threaten their survival •Stages −Blinded: key managers fail to recognize the internal or external changes −Inaction: recognition of problems fails to prompt managers to act −Faulty action: management uses belt-tightening plans to cut costs, increase efficiency, and restore profits −Crisis: either bankruptcy, dissolution, or restructuring becomes necessary −Dissolution: company is dissolved because of failure to make needed changes

Organizational innovation and technology cycle

-Organizational innovation: the successful implementation of creative ideas in organizations -Technology cycle: a cycle that begins with the birth of a new technology and ends when the technology reaches its limits and is replaced by a newer, substantially better technology

Types of nontariff barriers

-Quotas: a limit on the number or volume of imported products -Voluntary export restraints: voluntarily imposed limits on the number or volume of products exported to a particular country -Government import standard: a standard ostensibly established to protect the health and safety of citizens but, in reality, is often used to restrict imports -Subsidies: government loans, grants, and tax deferments given to domestic companies to protect them from foreign competition -Customs classification: a classification assigned to imported products by government officials that affects the size of the tariff and the imposition of import quotas

S-curve pattern innovation

-S-curve pattern of innovation: a pattern of technological innovation characterized by slow initial progress, then rapid progress, and then slow progress again as a technology matures and reaches its limits -Slope of the curve −Steep slope indicates that small amounts of effort will result in significant increases in performance −Flat slope indicates that increased effort will bring small improvements in performance

Types of forces and resistance to change

-Types of forces: −Change forces: forces that produce differences in the form, quality, or condition of an organization over time −Resistance forces: forces that support the existing conditions in organizations -Resistance to change: opposition to change resulting from self-interest, misunderstanding and distrust, and a general intolerance for change

Wholly owned affiliates and new ventures

-Wholly owned affiliates: foreign offices, facilities, and manufacturing plants that are 100 percent owned by the parent company −Advantage: the parent company receives all of the profits and has complete control over the foreign facilities −Disadvantage: expense of building new operations or buying existing businesses -Global new ventures: new companies that are founded with an active global strategy and have sales, employees, and financing in different countries −Result of easy transportation, low-cost communication technologies, and experienced businesspeople

Regional trading zones

1. Maastricht Treaty of Europe: a regional trade agreement among most European countries Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom (whose EU membership ended January 31, 2020) 2. United States-Mexico-Canada Agreement (USMCA): a regional trade agreement among the United States, Canada, and Mexico 3. Dominican Republic- Central America Free Trade Agreement (CAFTA-DR): a regional trade agreement among Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and the United States 4. Southern Common Market (MERCOSUR): a regional trade agreement among the primary countries of Argentina, Brazil, Paraguay, and Uruguay, with associated countries, Bolivia, Chile, Colombia, Ecuador, Guyana, Peru, and Surinam 5. Association of Southeast Asian Nations (ASEAN): a regional trade agreement among Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam 6. Asia-Pacific Economic Cooperation (APEC): a regional trade agreement among Australia, Canada, Chile, the People's Republic of China, Hong Kong, Japan, Mexico, New Zealand, Papua New Guinea, Peru, Russia, South Korea, Taiwan, the United States, and all the members of ASEAN except Cambodia, Lao PDR, and Myanmar 7. Tripartite Free Trade Agreement (TFTA): a regional trade agreement among 27 African countries −Angola, Botswana, Burundi, Comoros, Djibouti, Democratic Republic of the Congo, Egypt, Eritrea, Ethiopia, Kenya, Lesotho, Libya, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Rwanda, Seychelles, South Africa, South Sudan, Sudan, Swaziland, Tanzania, Uganda, Zambia, and Zimbabwe

Components of Creative Work Environments

1. Organizational Encouragement 2. Supervisory Encouragement 3. Work Group Encouragement 4. Freedom 5. Lack of Organizational Impediments 6. Challenging Work

Strategy-making process-STEP 2

1. Situational (SWOT) analysis-an assessment of the strengths and weaknesses in an organization's internal environment and the opportunities and threats in its external environment 2. Distinctive competence: what a company can make, do, or perform better than its competitors 3. Shadow-strategy task force: a committee within a company that analyzes the company's own weaknesses to determine how competitors could exploit them for competitive advantage 4. Core capabilities: the internal decision-making routines, problem-solving processes, and organizational cultures that determine how efficiently inputs can be turned into outputs 5. Strategic group: a group of companies within an industry against which top managers compare, evaluate, and benchmark strategic threats and opportunities 6. Core firms: the central companies in a strategic group 7. Secondary firms: the firms in a strategic group that follow strategies related to but somewhat different from those of the core firms

Characteristics of resources that contribute to sustainable advantage:

1. Valuable resource-allows companies to improve efficiency and effectiveness 2. Rare resource-not controlled or possessed by many competing firms 3. Imperfectly imitable resource-impossible or extremely costly or difficult for other firms to duplicate 4. Non-substitutable resource-produces value or competitive advantage and has no equivalent substitutes or replacements

Three Steps of the Strategy-Making Process

1. assess need for strategic change 2. conduct situational analysis 3. choose strategic alternatives

Strategy-making process-STEP 1

1. competitive inertia- a reluctance to change strategies or competitive practices that have been successful in the past 2. Strategic dissonance-a discrepancy between a company's intended strategy and the strategic actions managers take when implementing that strategy

Porter's Five Industry Forces

1. threat of new entrants 2. bargaining power of buyers 3. bargaining power of suppliers 4. threat of substitute products or services 5. character of rivalry high is bad, low is good need to keep perspective of already being in the industry and looking out

General steps for organizational development interventions

1.Entry A problem is discovered, and the need for change becomes apparent. a search begins for someone to deal with the problem and facilitate change. 2. Startup A change agent enters the picture and works to clarify the problem and gain commitment to a change effort. 3. Assessment & feedback The change agent gathers information about the problem and provides feedback about it to decision makers and those affected by it. 4. Action planning The change agent works with decision makers to develop an action plan. 5. Intervention The action plan, or organizational development intervention, is carried out. 6. Evaluation The change agent helps decision makers assess the effectiveness of the intervention. 7. Adoption Organizational members accept ownership and responsibility for the change, which is then carried out through the entire organization. 8. Separation The change agent leaves the organization after fist ensuring that the change intervention will continue to work.

How to create a results-drive change program

1.Set measurable, short-term goals to improve performance. 2.Make sure your action steps are likely to improve measured performance. 3.Stress the importance of immediate improvements. 4.Solicit help from consultants and staffers to achieve quick improvements in performance. 5.Test action steps to see if they actually yield improvements. If they don't, discard them and establish new ones. 6.Use resources you have or that can be easily acquired. It doesn't take much.

strategies to minimize political risk

Avoidance: −Divesting or selling the business −Postponing investment until the risk shrinks Control: −Lobbying foreign governments or international trade agencies to change laws, regulations, or trade barriers Cooperation: −Using joint ventures and collaborative contracts

Glow Farms grows genetically modified fruits and vegetables by using nutrient enriched soil and chemically enhanced fertilizers. Its products are extremely popular among health-conscious individuals who believe that natural fruits and vegetables do not have adequate amounts of nutrients. Glow Farms' products are popular even though their market is mostly niche. What industry-level strategy does Glow Farms appear to be using?

Differentiation

Corporate level-strategy: portfolio strategy

Evidence suggests that acquiring unrelated businesses is not useful because of the U-shaped relationship between diversification and risk −The BCG matrix may yield incorrect judgments about a company's potential −Mis categorizing companies can weaken strong performers and harm employee morale -Related diversification: creating or acquiring companies that share similar products, manufacturing, marketing, technology, or cultures

Firm-level strategies

Firm-level strategy: a corporate strategy that addresses the question, "How should we compete against a particular firm?" -Direct competition: the rivalry between two companies that offer similar products and services, acknowledge each other as rivals, and act and react to each other's strategic actions -Level of direct competition is determined by −Market commonality: the degree to which two companies have overlapping products, services, or customers in multiple markets -Resource similarity: the extent to which a competitor has similar amounts and kinds of resources

Free-trade agreements matter

Free-trade agreements increase choices, competition, and purchasing power −Lead to the decrease in the expenditure for food, clothing, necessities, and luxuries Free-trade agreements create new business opportunities and intensify competition −Managers are responsible to address the competition

In the context of interorganizational processes, which of the following is a difference between modular organizations and virtual organizations?

In modular organizations, outside organizations to which noncore business activities are outsourced are tightly linked to one central company, whereas virtual organizations work with some companies in a network alliance, but not with all.

Matrix departmentalization offers which of the following advantages?

It allows companies to manage large, complex tasks in an efficient manner

Job Rotation, Enlargement, Enrichment

Job Rotation: Periodically moving workers from one specialized job to another Job Enlargement: Increasing the number of tasks that a worker performs within one particular job Job Enrichment: Increasing the number of tasks in a particular job and giving workers the authority to make meaningful decisions about their work

Strategy-making process-STEP 3

Managers should either choose a risk-avoiding strategy or a risk-seeking strategy based on whether the company falls above or below strategic reference points -Strategic reference points: the strategic targets managers use to measure whether a firm has developed the core competencies it needs to achieve a sustainable competitive advantage

Becoming Aware of Cultural Differences

National culture: the set of shared values and beliefs that affects the perceptions, decisions, and behavior of the people from a particular country •Consistent cultural dimensions that exist across countries −power distance: individuals' perceptions of power distribution −individualism: degree of belief in self-sufficiency −masculinity/femininity: assertive vs. nurturing cultures −uncertainty avoidance: comfort level with the unpredictable/unstructured −short-term/long-term orientation: preference for deferred or immediate gratification indulgence versus restraint: strictness of social norms •Cultural differences affect perceptions, understanding, and behavior •In order to succeed in global business, companies should: −Recognize cultural differences −Decide how to adapt the company to differences −Ensure that adaptations are not based on outdated and incorrect assumptions about a country's culture

Managers improve a firm's long-term health and performance through this type of a philosophy and collection of planned change interventions:

Organizational development

In which of the following situations does competitive advantage become sustainable competitive advantage?

Other companies cannot duplicate the value a firm is providing to customers

Centinel Spine specializes in a number of orthopedic devices. In its work to produce a replacement discs for various regions of the spin, it has come up with a more flexible and adaptable lumbar disc replacement. The new disc is going through trials to test function, efficacy, and safety. In the experiential approach to innovation, the lumbar disc replacement is

Product prototype

Location criteria and political risk

Qualitative factors: -Work force quality -Company strategy Quantitative factors: -Kind of facility being built -Tariff and nontariff barriers -Exchange rates -Transportation and labor costs -Political uncertainty: the risk of major changes in political regimes that can result from war, revolution, death of political leaders, social unrest, or other influential events -Policy uncertainty: the risk associated with changes in laws and government policies that directly affect the way foreign companies conduct business

What NOT to do when leading change

Unfreezing phase ••Not establishing a great sense of urgency ••Not creating a powerful enough coalition Change phase ••Lack of vision ••Undercommunicating the vision by a factor of ten ••Not removing obstacles to the new vision ••Not systematically planning for and creating short-term wins Refreezing ••Declaring victory too soon ••Not anchoring changes in the corporation's culture

Interorganizational process

a collection of activities that take place among companies to transform inputs into outputs that customers value -modular organizations -virtual organizations •Modular organization: an organization that outsources noncore business activities to outside companies, suppliers, specialists, or consultants −Cost-effective, but disadvantages include loss of control and reduced competitive advantage

sustainable competitive advantage

a competitive advantage that other companies have tried unsuccessfully to duplicate and have, for the moment, stopped trying to duplicate

Matrix Departmentalization

a hybrid organizational structure in which two or more forms of departmentalization, most often product and functional, are used together −Simple matrix: a form of matrix departmentalization in which managers in different parts of the matrix negotiate conflicts and resources -Complex matrix: a form of matrix departmentalization in which managers in different parts of the matrix report to matrix managers, who help them sort out conflicts and problems

Strategic alliances

an agreement in which companies combine key resources, costs, risks, technology, and people -Joint venture: a strategic alliance in which two existing companies collaborate to form a third, independent company or engage in a clearly defined business activity −Can help companies avoid tariff and nontariff barriers to entry −Companies participating in a joint venture bear only part of the costs and the risks of that business −Must share profits as well as costs/risks Often are challenging because multiple cultures are involved.

Job characteristics model

an approach to job redesign that seeks to formulate jobs in ways that motivate workers and lead to positive work outcomes internal motivation: motivation that comes from the job itself rather than from outside rewards

Unlike nontariff barriers, tariffs _____.

are direct taxes on imported goods

Reengineering

fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical measures of performance, such as cost, quality, service, and speed Task interdependence: the extent to which collective action is required to complete an entire piece of work

Trade barriers

government-imposed regulations that increase the cost and restrict the number of imported goods -Protectionism: a government's use of trade barriers to shield domestic companies and their workers from foreign competition -Tariff: a direct tax on imported goods -Nontariff barriers: nontax methods of increasing the cost or reducing the volume of imported goods

Types of organizational development interventions

large-system: sociotechnical systems, survey feedback Small-group: team building, unit goal setting person-focused: counseling/coaching, training

Local adaptation

modifying rules, guidelines, policies, and procedures to adapt to differences in foreign customers, governments, and regulatory agencies −Involves the risk of losing cost effectiveness and productivity that result from using standardized rules and procedures −Locally sourcing inputs is desired

Geographic Departmentalization

organizing work and workers into separate units responsible for doing business in particular geographic areas

Functional Departmentalization

organizing work and workers into separate units responsible for particular business functions or areas of expertise

Customer Departmentalization

organizing work and workers into separate units responsible for particular kinds of customers

Product Departmentalization

organizing work and workers into separate units responsible for producing particular products or services

International Oil and Gas is refusing to expand its global operations into India's Maharashtra region due to the insurgencies that frequently occur there. This threat of insurgencies in the area is an example of

political uncertainty

Reengineering and task interdependence

pooled interdependence: work completed by having each job or department independently contribute to the whole Sequential interdependence: work completed in succession, with one group's or job's outputs becoming the inputs for the next group or job Reciprocal interdependence: work completed by different jobs or groups working together in a back-and-forth manner

competitive advantage

providing greater value for customers than competitors can

Resources

the assets, capabilities, processes, employee time, information, and knowledge that an organization uses to improve its effectiveness and efficiency and create and sustain competitive advantage

Delegation of authority

the assignment of direct authority and responsibility to a subordinate to complete tasks for which the manager is normally responsible

Global Business

the buying and selling of goods and services by people from different countries -Multinational corporation: a corporation that owns businesses in two or more countries -Direct foreign investment: a method of investment in which a company builds a new business or buys an existing business in a foreign country

Corporate level strategies

the overall organizational strategy that addresses the question "What business or businesses are we in or should we be in?" -diversification: a strategy for reducing risk by buying a variety of items (stocks or, in the case of a corporation, types of businesses) so that the failure of one stock or one business does not doom the entire portfolio

Global consistency

when a multinational company has offices, manufacturing plants, and distribution facilities in different countries and runs them all using the same rules, guidelines, policies, and procedures −Valued because it simplifies decisions −Involves risk of using management procedures poorly suited to particular countries' markets, cultures, and employees

Organizational authority

•Authority: the right to give commands, take action, and make decisions to achieve organizational objectives •Chain of command: the vertical line of authority that clarifies who reports to whom throughout the organization •Unity of command: a management principle that workers should report to just one boss

Ways to manage innovation

•Build a creative work environment to manage sources of innovation −Creative work environments: workplace cultures in which workers perceive that new ideas are welcomed, valued, and encouraged −Flow: a psychological state of effortlessness, in which you become completely absorbed in what you're doing, and time seems to pass quickly •Use an experiential approach to manage innovation during incremental change •Build a creative work environment to manage sources of innovation

degree of centralization

•Centralization of authority: the location of most authority at the upper levels of the organization •Decentralization: the location of a significant amount of authority in the lower levels of the organization •Standardization: solving problems by consistently applying the same rules, procedures, and processes •Rule of thumb: companies should −centralize where standardization is important decentralize where standardization is unimportant

Innovation streams

•Discontinuous change is followed by mergence of a dominant design •Dominant design: a new technological design/process that becomes the accepted market standard 1.Indicates which companies will prosper and which will face technological lockout −Technological lockout: the inability of a company to competitively sell its products because it relies on old technology or a nondominant design 2.Signals shift from experimentation and competition to incremental change Incremental change: companies innovate by lowering costs and improving the functioning and performance of the dominant technological design

Empowerment

•Empowering workers: permanently passing decision-making authority and responsibility from managers to workers by giving them the information and resources they need to make and carry out good decisions •Empowerment: feeling of intrinsic motivation in which workers perceive their work to have impact and meaning and perceive themselves to be competent and capable of self-determination −Can lead to changes in organizational process

Preparing for an international assignment

•Expatriate: someone who lives and works outside his or her native country •Language and cross-cultural training −Help expatriates make faster adjustments to foreign cultures and perform better on their international assignments documentary training - focuses on identifying specific critical differences between cultures cultural simulations - trainees practice adapting to cultural differences field simulation - trainees are placed in an ethnic neighborhood for three to four hours to talk to residents about cultural differences •Family adjustment is also a significant factor in international assignment success −Adaptability screening assesses how well managers and their families are likely to adjust to foreign cultures −Intercultural training helps families prepare for the cultural differences they will encounter

Finding the best business climate

•Growing markets are the most important factor to assess •Purchasing power: the relative cost of a standard set of goods and services in different countries •Degree of global competition: −Determined by the number and quality of companies that already compete in a foreign market

Job Design/ Specialization

•Job design: the number, kind, and variety of tasks that individual workers perform in doing their jobs •Job specialization: job composed of a smaller part of a larger task or process

Line versus staff authority

•Line authority: the right to command immediate subordinates in the chain of command •Staff authority: the right to advise, but not command, others who are not subordinates in the chain of command •Line function: an activity that contributes directly to creating or selling the company's products Staff function: an activity that does not contribute directly to creating or selling the company's products but instead supports line activities

Intraorganizational processes

•Mechanistic organization: an organization characterized by specialized jobs and responsibilities; precisely defined, unchanging roles; and a rigid chain of command based on centralized authority and vertical communication •Organic organization: an organization characterized by broadly defined jobs and responsibilities; loosely defined, frequently changing roles; and decentralized authority and horizontal communication based on task knowledge •Intraorganizational process: the collection of activities that take place within an organization to transform inputs into outputs that customers value

Managing resistance to change

•Organizational change process proposed by Kurt Lewin −Unfreezing: getting the people affected by change to believe that change is needed −Change intervention: the process used to get workers and managers to change their behaviors and work practices −Refreezing: supporting and reinforcing new changes so that they stick

Organizational structure and process

•Organizational structure: the vertical and horizontal configuration of departments, authority, and jobs within a company •Organizational process: the collection of activities that transform inputs into outputs that customers value •Departmentalization: subdividing work and workers into separate organizational units responsible for completing particular tasks Functional, product, customer, geographic, and matrix

Adaptive strategies

•Purpose: to choose an industry-level strategy that is best suited to changes in an organization's external environment •Defenders: companies using an adaptive strategy aimed at defending strategic positions by −seeking moderate, steady growth −offering a limited range of high-quality products and services to a well-defined set of customers -Prospectors: companies using an adaptive strategy that seeks fast growth by −searching for new market opportunities −encouraging risk taking −being the first to bring innovative new products to market -Analyzers: companies using an adaptive strategy that seeks to minimize risk and maximize profits by following or imitating the proven successes of prospectors -Reactors: companies that do not follow a consistent adaptive strategy but instead react to changes in the external environment after they occur

Positioning strategies

•Purpose: to protect your company from the negative effects of industry-wide competition and to create a sustainable competitive advantage •Cost leadership: producing a product or service of acceptable quality at consistently lower production costs than competitors can, so that the firm can offer the product or service at the lowest price in the industry •Differentiation: providing a product or service that is sufficiently different from competitors' offerings that customers are willing to pay a premium price for it Focus strategy: using cost leadership or differentiation to produce a specialized product or service for a limited, specially targeted group of customers in a particular geographic region or market segment

Change tools and techniques

•Results-driven change: change created quickly by focusing on the measurement and improvement of results •Agile change: using daily standups, or "huddles," to review the progress of multidisciplinary teams or "Scrums," who break problems into small, clearly defined parts that team members work on in sprints •General Electric fast works: quickly experimenting with new ideas to solve customer problems and learn from repeated tests and improvements •Organizational development: a philosophy and collection of planned change interventions designed to improve an organization's long-term health and performance −Change agent: the person formally in charge of guiding a change effort

Core Job Characteristics

•Skill variety: the number of different activities performed in a job •Task identity: the degree to which a job, from beginning to end, requires the completion of a whole and identifiable piece of work •Task significance: the degree to which a job is perceived to have a substantial impact on others inside or outside the organization •Autonomy: the degree to which a job gives workers the discretion, freedom, and independence to decide how and when to accomplish the job Feedback: the amount of information the job provides to workers about their work performance

Virtual organizations

•an organization that is part of a network in which many companies share skills, costs, capabilities, markets, and customers to collectively solve customer problems or provide specific products or services •Advantages: −Allow cost sharing −Enable members to combine efforts −Fast and flexible •Disadvantages: −Difficulty in controlling the quality of work done by network partners −Require tremendous managerial skills

What are some of the core capabilities would you expect an esports company to have?

−Because core capabilities are the internal decision-making routines, problem-solving processes, and organizational cultures that determine how efficiently inputs can be turned into outputs, esports efforts in that regard would likely include: -Establishing a presence in the esports world -Determining gaming platforms to support -Enlisting various individual players and coaches -Arranging competitions and sponsorships

Think about the following segments of the Disney companies: theme parks, Internet marketing, Studio Entertainment, media networks, interactive/digital games, and consumer products. Discuss where these segments fall on a BCG matrix.

−Cash cow (high market share/low growth rate): Studio Entertainment and consumer products are both mature segments but still earn high revenues −Star (high market share/high growth rate): media networks and theme parks (although COVID-19 may present a shift for theme parks) −Question mark (low market share/high growth rate): Internet marketing has potential when looking at streaming considerations for future growth −Dog (low market share/low growth rate): interactive/digital games are a segment the company either needs to retrench or invest to turn into cash cows