Chapter 3 Study Guide MGMT

Four types of corporate culture

Adaptability culture: emerges in an environment that requires fast response and high-risk decision making. Achievement culture: Result-oriented culture. Values competitiveness, aggressiveness, personal initiative cost cutting, and willingness to work long and hard Involvement culture: High value on meeting needs of employees and values cooperation and equality Consistency culture: Values following rules and thriftiness and rewards a methodical, rational, orderly way of doing things

Strategies managers use to help organizations adapt to uncertain environments

Boundary spanning: links to and coordinates the organization with key elements in the external environment. -Big data analytics uses powerful computer technology to search and examine massive, complex sets of data to uncover hidden patterns and correlations so managers can make better decisions. Merger: When two or more organizations combine to become one. Joint venture: strategic alliance or program by two or more organizations.

Relationship among culture, corporate values, and business performance

Companies that succeed in a turbulent world are those in which managers are evaluated and rewarded for paying careful attention to both cultural values and business performance.

Define corporate culture. Provide examples of symbols, stories, heroes, slogans, and ceremonies and explain how they relate to corporate culture.

Corporate culture: Set of key values, beliefs, understandings, and norms shared by members of an organization. Symbols: object, act, or event that conveys meaning to others. Stories: narrative based on true events that is repeated frequently and shared among organizational employees. Heroes: figure who exemplifies the deeds, character, and attributes of a strong culture. Slogans: phrase or sentence that succinctly expresses a key corporate value. Ceremony: planned activity at a special event that is conducted for the benefit of an audience.

Define a cultural leader and explain tools they use to create high-performance culture

Cultural leader: defines and uses signals and symbols to influence corporate culture. The leader clarifies what the new culture should be and crafts a story that inspires people to change. -The cultural leader articulates a vision for the organizational culture that employees can believe in. -The cultural leader heeds the day-to-day activities that reinforce the cultural vision.

Define organizational ecosystem and how the general and task environments affect an organization's ability to thrive

Organizational ecosystem: Systems formed by the interaction among a community of organization in the environment General environment: Factors that affect organizations indirectly Task environment: Factors that affect organizations directly (customers, competitors)