Planning, Goal Setting, Strategy Formulation, Execution, Organizational Structure, Innovation and Change, Communication, Leading Teams, Quality and Performance

Portfolio strategy

Pertains to units and product lines that fit together in a logical way to provide synergy and competitive advantage for the organization

Michel Porter's 5 competitive forces

Potential new entrants, bargaining power of buyers, bargaining power of suppliers, threat of substitute products, rivalry among competitors

Crisis plans

Preparing to cope with catastrophic events that could destroy the organization

Delegating authority

Process managers use to transfer authority/responsibility to positions below them in hierarchy

Managing Innovation and Change

Product innovation, process innovation, disruptive innovation, design thinking, ambidextrous approach

Good plans

Reduce uncertainty and add clarity

Staff authority

Right to advise/recommend/counsel (but not command) in a specialist's area of expertise

Team effectiveness

Satisfaction, production, adaptation

Operational planning

Scope: departments/individuals, purview: lower-level management, goals: results (precise & measurable) expected from departments/work groups/individuals, plans: specify action steps towards achieving operational goals and that help meet tactical and strategic goals, timeframe: shortest time horizon

Reporting relationships

Division of labor, span of management, authority, chain of command

Strategic Business Unit (SBU)

Fully functional, independent business division with a unique mission, product line, competitors, and markets

Leading Teams

Functional teams, cross-functional teams, self-managed teams, agile teams, team effectiveness, team demographics, member roles, team processes, team conflict, conflict handling styles, negotiation

Managerial skill set for effective communication

Give feedback, use candor, asking questions, listen, pay attention to non-verbal communication, empathy

Planning

Identify goals and resources required to obtain goals

Scenario building

Looking at current trends/discontinuities and visualizing future possibilities

Creating a sense of urgency

Making people aware of problems and motivating them to accept change

Quantitative measures

Numerical information that can be measured

Vertical integration

Organization expands into businesses that either produce supplies needed to make its products/services or that distribute/sell those products/services to customers

Line authority

People in management positions have formal authority to direct and control immediate subordinates

Plan

A blueprint for goal achievement which specifies necessary resource allocations, schedules, tasks, and other actions

Goal

A desired future circumstance/condition that the organization attempts to realize

Flow

A state of concentration or complete absorption with the activity at hand and the situation... in which people are so involved in an activity that nothing else seems to matter

Information/channel richness

Amount of information that can be transmitted during a communication episode

Organizing

Assign tasks, group tasks, delegate authority, and allocate resources

BCG Matrix

Boston consulting group management strategy/portfolio matrix

Mission statement

Broadly stated definition of purpose that distinguishes the organization from others of a similar type

Methods for managing goal conflict

Build a coalition alliance, modify goals by time/location, debate and dialogue, promote cross-silo cooperation, manager departures

Limitations of Planning

Can create too much pressure, can create a false sense of certainty, may cause rigidity in a turbulent environment, can get in the way of intuition/creativity

Managing Quality and Performance

Controlling, monitoring, organizational control approaches, feedback control model, total quality management, budgetary control, financial control

Levels of strategy

Corporate, business, functional

Centralization

Decisions authority is located at/near the top

Decentralization

Decisions authority is pushed downward to lower organizational levels

Contingency plans

Define organization response for emergencies/setbacks/unexpected conditions

Michel Porter's 3 competitive strategies

Differentiation, cost leadership, focus

Tactical planning

Scope: major divisions, purview: middle management, goals: results major divisions/departments intend to achieve, plans: help execute major strategic plans and accomplish specific part(s) of organization's strategy, timeframe: short time horizon than the strategic plans

Strategic planning

Scope: the organization as a whole, purview: senior management, goals: board statements for where organization wants to be in the future, plans: action steps by which organization intends to attain strategic goals, timeframe: tends to be long term (two to five years)

Strategic management

Set of decisions and actions used to formulate and execute strategies that will provide a competitively superior fit between the organization and its environment

Organizational structure

Set of formal tasks assigned to individuals/departments, formal reporting relationships, effective employee coordination

Planning benefits

Source of motivation/commitment, guide resource allocation, guide action, set standard of performance

Goal setting criteria

Specific and measurable, challenging but realistic, linked to rewards, defined time period(s), translated (mapped) to key results

Portfolio diversification

Spreading investments around to limit exposure to any asset type and reduce portfolio volatility

Team processes

Stages of development, team norms, psychological safety, equal participation

SWOT

Strengths, weaknesses, opportunities, threats

Mission

The organization's reason for existence

Strategy execution

The use of managerial/organizational tools to direct resources toward accomplishing strategic results

Implication tactics

Top management support, communication and education, participation, negotiation, coercion

Managing Communication

Transmission, interaction, transaction, communication needs, encoding, message, channel, decoding, feedback, field of experience, non-verbal communication

Chain of command

Unbroken line of authority that links all employees in an organization and shows who reports to whom

Reasons people resist change

Uncertainty, self-interest, lack of understanding/trust, different assessments and goals

Stages for implementing change

Unfreezing, changing, refreezing

Departmentalization

Vertical functional, vertical divisional, horizontal matrix, horizontal team, virtual network organization

Competitive Advantage

What sets organizations apart from others and provides a distinctive edge for meeting customer/client needs