Management Chapter 2
labor market forces affecting organizations right now (3 things)
1) growing need for computer-literate knowledge workers 2) necessity for continuous investment in human resources 3) effects of international trading blocs, automation, outsourcing, and shifting facility locations on labor dislocations, all of which create unused labor pools in same area and labor shortages in others
a high-performance culture is a culture that ____________ (3 things)
1) is based on a solid organizational mission or purpose 2) embodies shared adapted values that guide decisions and practices 3) encourages individual employee ownership of both results and organization's culture
key success factors to a bossless organization (4 things)
1) reduce hierarchies starting from the top down 2) develop a system that "fits" the organization 3) recruit and hire employees who can adapt to a bossless culture 4) expect bumps in the road
Dimensions of the general environment (6 things)
1) technological 2) natural 3) Sociocultural 4) Economic 5) Legal/Political 6) International
sociocultural trends (3 things)
1) technologically savvy consumers 2) young people are focusing on widespread equality 3) minorities making up larger percentage of US population
slogan
A phrase, such as Disney's "The happiest place on earth," that succinctly expresses a key corporate value.
ceremony
A planned activity at a special event. managers hold ceremonies to provide dramatic examples of company values. Can create a bond among people by sharing an important event or celebrating heroes
achievement culture
A results-oriented culture that values competitiveness, personal initiative, cost cutting, and achievement. (stability and external)
strategic issues
An event or force that alters an organization's ability to achieve its goals.
Just-in-time (JIT)
An inventory-management approach in which supplies arrive just when needed for production or resale
high-performance culture is one that emphasize what?
Emphasizes both cultural values and business results.
a cultural leader is the "_________________" for the desire cultural values
"chief marketing officer"
what are the four categories of corporate culture?
1) adaptability culture 2) involvement culture 3) achievement culture 4) consistency culture
cultural leaders influence culture in what 2 key areas?
1) articulates a vision employees can believe in 2) heeds the day-to-day activities that reinforce the vision
strategies used by managers to adapt to strategic issues (3 things)
1) business intelligence applications 2) attempts to influence the environment 3) mergers or joint ventures
dimensions of internal environment (3 things)
1) current employees 2) culture 3) management
the task environment includes (4 things)
1) customers 2) competitors 3) suppliers 4) labor market
natural dimension
Includes all elements that occur naturally on Earth, including plants, animals, rocks, and natural resources such as air, water, and climate.
labor market
The people available for hire by the organization.
culture can be analyzed at 2 levels. What are they?
Visible and invisible
involvement culture
a culture that places high value on meeting the needs of employees and values cooperation and equality (family-like atmosphere) (flexible and internal)
hero
a figure who exemplifies the deeds, character, and attributes of a strong culture impacts are felt long after they are gone
competitive intelligence (CI)
a growing area of boundary spanning which refers to activities to get as much information as possible about one's rivals
symbol
an object, art, or event that conveys meaning to others
business intelligence
analyzing large amounts of data (internal and external) for strategic decision making
Influencing the Environment
another area of boundary spanning that includes activities that represent the organization's interest in the environment and attempt to influence elements of the external environment (example- political lobbying)
visible culture involves visible __________
artifacts- dress, office layout, symbols, slogan, and ceremonies
the fastest growing segment of business intelligence is ___________
big data analytics
Adaptibility Culture
characterized by values that support the company's ability to interpret and translate signals from the environment into new behavior responses (flexible and external)
most important factor for attracting, motivating, and retaining employees
corporate culture
companies that succeed in a turbulent world pay attention to both ___________ and __________
cultural values and business performance
cultural leader
defines and uses signals and symbols to influence corporate culture
invisible culture involves ___________ and _____________
expressed values and underlying, subconscious values/ beliefs
external organizational environment
includes all elements existing outside the boundary of the organization that have the potential to affect the organization
sociocultural dimension
includes demographic characteristics, norms, customs, and values of a population within which the organization operates
internal environment
includes elements within the organization's boundaries, such as employees, management, and corporate culture
legal-political dimension
includes government regulations at the local, state, and federal levels, as well as political activities designed to influence company behavior
organizational ecosystem
includes organizations in all the sectors of the task and general environments that provide the resource and information transactions, flows, and linkages necessary for an organization to thrive
Task Environment
includes those sectors that have a direct working relationship with the organization, among them customers, competitors, suppliers, and the labor market. (affect day to day and basic operations)
general environment
indirectly influences all organizations within an industry doesn't directly affect day-to-day operations but do affect all organizations eventually
Boundary Spanning
links to and coordinates the organization with key elements in the external environment
in regards to categories of culture, organizations usually have values that fall into ____________ categories
multiple
story
narrative based on true events, which is repeated - and sometimes embellished upon - to emphasize a particular value
international dimension
of the external environment represents events originating in foreign countries as well as opportunities for U.S. companies in other countries
technological dimension
of the general environment includes scientific and technological advances in society
competitors
organizations within the same industry or type of business that vie for the same set of customers
managers must _______________ to ensure that employees understand the new culture values, and they signal these values in both actions and words
over-communicate
customers
people and organizations in the environment that acquire goods or services from the organization
suppliers
provide the raw materials the organization uses to produce its output
economic dimension
represents the general economic health of the country or region in which the organization operates
joint venture
strategic alliance or program by two or more organizations
the organization's external environment has two components. What are they?
task environment and general environment
categories of culture are based on what 2 dimensions?
the extent to which the external environment requires flexibility the extent to which a company's strategic focus is internal or external
___________ means that managers don't have sufficient information about environmental factors to understand and predict environmental needs and changes
uncertainty
consistency culture
values and rewards a methodical, rational, orderly way of doing things (stability and internal)
mergers
when two or more organizations combine to become one