MGMT EXAM #2
reward employees for finding ways to cut costs
manager is using miles and snow's defender strategy; what action is the manager likely to take?
first
"define the decision that needs to be made" is the ________ step in the decision making process
sixth
"determine whether the decision was correct and well executed" is the ______ step in the decision making process
improve operations
"gm retools its detroit-hamtramck factory to make electric motors and battery packs instead of engines and transmissions" uses the ____________ approach to productivity enhancements
second
"identify some alternatives" is the ________ step of the decision making process
fifth
"make an operational plan to put the decision into effect" is the ______ step of the decision making process
fourth
"select the most effective alternative" is the ________ step of the decision making process
unprogrammed
if a manager needs to decide how to deal with a new and highly complex situation, this manager needs to make a _____________ decision
barriers to goal setting and planning
inappropriate goals, improper reward system, dynamic and complex environment, reluctance to establish goals, resistance to change, and constraints are all:
benchmarking
learning how other businesses perform tasks to an extraordinarily high standard is the practice of:
benchmarking
learning how other organizations accomplish high-quality work
purchasing management
managing the acquisition of materials and other resources to make products or services is known as:
total quality management
many companies are committed to make quality the guiding factor in everything they do. these companies follow a widely recognized philosophy known as :
features
what dimension of quality: i understand my role in achieving the key success factors, embracing community footprints and creating The ritz-carlton mystique
reliability
what dimension of quality:i protect the privacy and security of our guests, my fellow employees and the company's confidential information and assets
how much will the organization need to produce?
what is a key decision operations managers need to make with regard to capacity?
should our company focus more on giving things away, or on selling things for a reduced price to those in need?
what is a question that you should ask during the development of strategic goals for the organization?
purchasing management
what is at the very heart of effective supply chain management?
decision making under risk is when the decision maker knows the alternatives and their associated risk probability estimates
what is most accurate about decision making under risk?
company strengths and weaknesses
when conducting a SWOT analysis, information about turnover, profit margins, and staff quality can be used to identify:
location
when designing facilities, decisions must be made about their ________ , which concerns their physical positioning or geographic site.
value added analysis
an attempt to discover whether some work activities add no value for the customer
intuition
an innate unconscious belief, usually based on experience
planning task force
an organization decides to recruit several line managers and some planning experts to make plans for an international expansion; what is this team called?
planning staff
an organization decides to use a centralized team of dedicated experts to lead planning across the organization; what is this team called?
it still dominates the market despite efforts to duplicate its distinctive competence
an organization is said to have sustained competitive advantage when:
delphi group
_______ _________ method is when group coordinators present the "average" opinion to the group members, who provide opinions in multiple rounds until they are in agreement
strategic
_______ goals: set by top management, broad in scope, and have a long time frame
nominal group
________ _________ method is when group members first brainstorm alternatives independently, then these ideas are posted where everyone can read them and share their reactions
strategic
________ goals are set by and for top management
reaction
________ plan: created to enable the business to respond to an unexpected situation
operational
_________ goals are set for and by lower-level management
strategy
a company's ________ serves as an organizational plan, outlining how the company will create a competitive advantage.
action
a short range plan that takes steps to move another plan forward is a _______ plan
total quality management (TQM)
a strategic commitment by top management to build quality into every business decision is a defining characteristic of:
effective
a strategy is _________ when it aligns the organization with its environment and support achievement of its goals
delphi group technique
as a member of a team of subject matter experts in the management of engineering projects, you need to organize discussions in a way that facilitates participation by all the experts. Which team decision-making approach will be best in ensuring input from the team experts?
finished goods
basic kind of inventory: hihg-level production scheduling systems in conjunction with marketing
conformance
dimension of quality: the degree to which a product's design and operating characteristics meet the standard
identifying alternative courses of action, developing a plan to put the decision into effect, choosing the alternative that is likely to be the most effective
(3) steps on the decision making process?
product-service
determining the _____________ mix is a place to start naturally when designing operations systems: managers have to decide how many and what kinds to offer
reducing cycle time
developing, making, and distributing products/services faster
performance
dimension of quality that is a product's primary operating characteristics; example is automobile acceleration
features
dimension of quality that is supplements to a product's basic functioning characteristics, like power windows on a car
durability
dimension of quality: a measure of product life
reliability
dimension of quality: a probability of not malfunctioning during a specified period
perceived quality
dimension of quality: as seen by a customer
aesthetics
dimension of quality: how a product looks, feels, tastes, and smells
serviceability
dimension of quality: the speed and ease of repair
intuition
escalation, intuition, or satisficing: Brody is an experienced manager who needs to hire a new financial analyst. There are five people who might be right for the job. When Brody meets the first applicant, he knows instantly that he doesn't like her and doesn't want her working for him. As a result, he cuts short his interview with her and moves on to the next candidate.
escalation
escalation, intuition, or satisficing: Last month, the Pilots Association held a meeting to discuss its plans for next year. Last year, the group spent more than $50,000 to develop plans for a new airport hub. The hub was criticized by airport officials, who suggested that they would not be interested in the project at any time. The group decided to continue developing their plans, because they had already invested so much in the project.
satisficing
escalation, intuition, or satisficing: noah works at a coffee shop that offers a special limited edition drink during the month of June. It is always a hassle to get his colleagues to agree on the special drink, so he started providing them with a different sample each morning starting well before June. One day, every employee agreed that the daily sample would be a good choice to use as the limited edition beverage in June, so they chose that drink as the special and didn't taste any more samples
intangible outputs
etrade facilitates stock transactions for its customers, because etrade is a service organization, its operations process transforms resources into:
programmed
every morning when you walk into starbucks, you order the same thing: a venti green tea frappuccino with extra whipped cream; you can't drink anything else at starbucks because you don't like hot beverages, coffee, or black tea, and you like your beverages tall and creamy. your decision about what to order at starbucks today is a __________ decision
robot
ff an organization uses an artificial device to perform functions customarily performed by humans, the organization is using a:
shop floor control systems
ff you are managing inventory of work in process, which source of control should you use?
interacting groups and teams
form of group and team decisions making where a designated group makes a decision after the different members interact
nominal groups
form of group and team decisions making where a group of ecperts generate alternatives, state them in turn, and vote on rank-order
delphi groups
form of group and team decisions making where a group of experts give opinions individually which are then combined or averaged
political forces
forming informal alliances to achieve a common organizational goal
cash cows
generating high profits and needing little investment on the BCG matrix
winner
good competitive position and high industry attractiveness on the GE business screen
question mark
having a small share of a rapidly growing market on the BCG matrix
operational capability determines which strategies can be carried out effectively
how does operations affect strategy?
develop
identify the time needed for different steps of the plan: _______ the plan
outsourcing
improving the organization's focus on its core competencies by hiring other organizations to do certain work
interacting group
in ______ ______ method, due to the relatively unstructured discussion among group members, political processes may have too much influence on the group's decision
higher
in the united states manufacturing sector, overall productivity is ________ than it was in the 1980s
the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs
sarah works for a market research firm that has been hired to assess customer perceptions of quality for franchise restaurants in the chain; measuring quality can be challenging because quality is:
computer aided manufacturing (CAM)
what technologies is specifically developed to move designs into production?
optimizing
what term is used to refer to the reconciliation of competing goals?
total factor productivity
what term refers to the overall indicator of how well an organization uses all of its resources such as labor, capital, materials, and energy to create all of its products and services?
developing
when a manager identifies all the resources people will need to carry out a tactical plan, the manager is _________ the plan
satisficing
when a manager stops looking for alternatives as soon as she finds one that meets minimum criteria, the manager is __________
common strength
when all firms selling online order management services have a reliable internet connection, this is a ______________
shared brand name, shared distribution, shared customers
an organization practices related diversification; which of the following are ways in which its businesses might be related? (3)
global strategy
an organization that produces standardized goods or services to sell around the world is using which strategy?
a single-product
an organization that sells only one product or service is using _________ strategy
risk propensity
how much a decision maker is willing to gamble or take a chance
determine what a subset of customers desires and tailor a product to them.
if an organization is following porter's focus strategy, what should its managers decide to do?
growth
which stage of product life cycle: sales of a product or service grow, but competitors begin to enter the market.
reactor
which strategy: common among firms with no consistent strategic approach.
focus
which strategy: concentrates production efforts on a specific products, group of buyers, and market.
prospector
which strategy: constantly seeks out new markets and opportunities.
differentiation
which strategy: distinguishes an organization's products from that of its competitors.
escalation of commitment
the tendency to persevere with a chosen course of action in the face despite opposition
business level and corporate level
the two levels of strategy are:
home replication strategy
which allows a firm to duplicate its core competency in the foreign markets in enters?
these goals are set by lower-level managers, are specific in scope, and have short time frames.
which of the following describes operational goals?
during the off-season, another team in the league signed players whose skills matched or exceeded those of the current champions.
which of the following factors should be classified as a threat for the team?
related diversification
which of the following types of diversification allows the organization to spread the overhead cost across the businesses thus, reducing the overhead costs per business?
introduction
which stage of product life cycle: managers hire more employees and manage inventory and cash flow as demand increases
decline
which stage of product life cycle: managers look to increase the company's market share or raise prices, because otherwise revenue will fall.
analyzer
which strategy: maintains current market and customer satisfaction, and some level of business innovation
overall cost leadership
which strategy: provides competitive advantage by reducing costs below that of competitors.
human resources
the use of _____ ________ is required for tactical planning
policies
what is the most general form of standing plan:
company productivity
what is the productivity of a single firm?
it ensures that materials are delivered to the organization exactly when they are needed
what is the purpose of the just-in-time (JIT) method of inventory management?
The good value of the company's products
If the company uses Porter's cost leadership strategy, what should marketing and sales emphasize?
Ensuring that the products customers want are available
If the company uses Porter's differentiation strategy, what should operations emphasize?
business
"At Apple, managers ask, 'Should our next iPad product be innovative and new, so we can charge a higher price for it, or should we consider going down one more size, so people with less money can purchase an iPad?'" is a _______ level strategy
business
"Last week, senior managers in the Post-it® Note division at 3M met to determine the best way to handle their product. Regardless of how 3M positions its other products, Post-it Notes will continue to be widely sold at a premium price. The company will continue to develop new Post-it products to attract new buyers" is a ________ level strategy
corporate
"Never previously known as a computer hardware company, Microsoft decides to enter the tablet manufacturing business, producing the Microsoft Surface" is a ________ level strategy
industry attractiveness and competitive position
GE business screen guides corporations in managing their portfolio of businesses by rating businesses on which two dimensions?
Research whether supplies will be sufficient to provide necessary inputs to the manufacturing plants
Given that UNIQLO is in the growth stage, with demand high and little competition, which of the following would be appropriate activities to include in the company's short-term plan?
distinctive competence
If a company delivers new products to market faster than any of its competitors, this ability is a __________ of the company.
Develop decision-making processes that optimize goal setting.
If the company has decided to use Miles and Snow's analyzer strategy, which of the following actions would best support this strategy?
Adopt a flat, decentralized organization design.
If the company has decided to use Miles and Snow's prospector strategy, which of the following actions would best support this strategy?
Plan for follow-up meeting where divergent opinions can be expressed.
If you are concerned about groupthink negatively influencing your team's decisions, which tactic could you use to minimize the potential for groupthink?
Choose one of three approaches for selling chocolate bars: low-cost, differentiation, or focus.; Evaluate what resources the company has to devote to manufacturing and selling chocolate bars.; Evaluate the intensity of competition and competitors' pricing of candies.
Seattle-based Theo Chocolate makes organic and Fair Trade chocolate bars. Its management team includes CEO Etienne Patout. Suppose Patout were deciding on a pricing strategy for the company's chocolate bars but no other company products. This is abusiness-level strategic decision. To make this decision, Patout would have to take which of the following actions?
focus
Some aspects of UNIQLO's strategy appear to be in line with Porter's differentiation strategy, while others are more aligned with overall cost leadership. If UNIQLO decided to direct its marketing toward people between the ages of 16 and 30, it would be using a __________ strategy.
true
T/F a well-conceived strategy has three components: distinctive competence, scope, and resource deployment.
true
T/F all managers should take part in the goal-setting process
true
T/F both manufacturing productivity and service productivity in the united states continue to grow, but manufacturing productivity is growing at a faster pace
true
T/F most managers agree that a formal goal setting program must begin from the top of the organization if it is to be effective
true
T/F other nations are catching up to the united states in terms of productivity, and the gap is starting to close
true
T/F the following are the 6 steps of rational decision making: 1) recognizing and defining the decision situation 2) Identifying alternatives 3) Evaluating alternatives 4) Selecting the best alternative 5) Implementing the chosen alternative 6) Following up and evaluating the results
reactor
UNIQLO tries to monitor its competitors' actions, but notices that one of these competitors seems to shift strategies often and does not anticipate trends in the environment. Which type of strategy does the competitor appear to have?
product life cycle
Valerie has been asked to analyze the introduction, growth, maturity, and decline stages projected for a new product at her company. By doing so, she is analyzing the _________
action
_____ plan: operationalizes any other type of plan
tactical
_______ goals: set by middle managers, focused on how to achieve broad goals and have medium time frames
execute
acquire and allocate resources: _____ the plan
more information and knowledge are available in the process, the final decision will generally be better accepted, the resulting decision is often better communicated
advantages of group and team decision making (3):
corporate
"The manufacturer of Chobani Yogurt decided to open a flagship store in Soho, where customers can order special yogurt creations, such as fig and walnut or cucumber and olive oil. Though it was in the business of manufacturing yogurt for 7 years, the company never tried to run a restaurant before" is a _______ level strategy
improve operations
"a manufacturing company makes small daily improvements in factory productivity by adjusting the workflow and processes" uses the __________ approach to productivity enhancements
third
"consider each alternative in terms of how feasible and satisfactory it is and what its likely consequences will be" is the ______ step of the decision making process
increase employee involvement
"the organization you work for revamps its performance evaluation and pay systems to measure and reward individual productivity" uses the __________ approach to productivity enhancements
dogs
having a small share of a shrinking market on the BCG matrix
nonprogrammed
your company typically increases each department's budget by a certain percentage over the prior year's budget; however, this year managers were asked to consider whether each budget item is still necessary and whether new budget items are needed to meet the department's needs. as a result, this year's budget process is a __________ decision
state of risk
your company's events committee learned that there is a 20% chance of rain on the day of the company picnic, that also means an 80% chance of dry weather; renting an indoor facility would require a nonrefundable payment of $1,000. the events committee is operating under a __________ as it decides whether to keep the outside location or to move the event indoors.
costs
zetsche said, "there's definitely a bunch of people who are just looking for a commodity car to get from A to B without getting wet, we cannot survive just trying to sell a car to them, because we cannot be the lowest-cost competitor." zetsche was emphasizing the role of ________ in quality.
competition
zetsche said, "we have the ability and determination to level with the technology of european cars and the quality of the japanese, and we have our styling capability on top of that." according to this statement, ___________ is the reason for the importance of quality.
productivity
zetsche was clearly referring to _________ when he said, "we are changing the mindset of our people to believe we are not satisfied anymore with 'good,' that it always can be better and it always has to be better; this takes time, but there are signs people will super hard to get the last 5%. that doesn't necessarily cost you money—it's just doing it better, more professionally and more precisely."
nonprogrammed
In 2020, FB announced plans to introduce a mobile gaming app designed for live gameplay; the app took several years to develop and was tested with users for 18 months before its release. the decision FB made to develop a mobile gaming app is a _______ decision
satisficing
Mikaela started attending a Zumba class on Tuesday and Thursday afternoons and found that it gave her a good workout, so that has been her exercise routine every since. The __________ involved in this decision-making process ensures Mikaela exercises on a regular schedule.
false
T/F the following are the 6 steps of rational decision making: 1) Assign decision making authority 2) Identifying alternatives 3) Evaluating alternatives 4) Selecting the best alternative 5) Implementing the chosen alternative 6) Following up and evaluating the results
intuition
a belief that is based on a person's unconscious application of experience
balance and reconcile competing goals
a manager is asked to optimize a set of goals; what is the manager being asked to do?
layout
a manager who decides how equipment will be arranged within a facility is determining its:
service operations
a salon transforms clients aesthetically, but it doesn't create a tangible outcome such as a good. what kind of operations takes place?
crisis management
a set of procedures the organization follows after plans are severely disrupted
jim would assess each option in terms of feasibility, satisfactoriness, and consequences; he will want to consider how difficult or costly each option would be to implement and whether each option would provide a satisfactory financial return
after you review the six steps with jim, he asks for an example of how to evaluate alternatives as he decides whether gingerforge should start manufacturing patio furniture; which of the following is the correct example to give to jim?
service organization
an organization that transforms resources into an intangible output that is available when and where customers want it is a:
materials control
another word for inventory control is ____________ because inventory refers to physical goods, which may be used as inputs that are transformed into outputs or finished goods.
raw materials
basic kind of inventory: purchasing models and systems
work in process
basic kind of inventory: shop-floor control systems
in transit (pipeline)
basic kind of inventory: transportation and distribution control systems
better decisions usually result, acceptance of the final decision is more likely
businesses commonly rely upon groups to make decisions because of the many advantages to group decision making, what are some advantages of group decision making? (2)
escalation of commitment
by not recognizing her ___________ , molly repeatedly took her 8-year-old laptop for repairs, even though the repair costs were greater than the price of a brand-new, faster laptop with much more memory
ISO 9000 and ISO 14000
complying with internationally accepted sets of quality standards
automation such as this can reduce errors both for the kitchen staff and accounting staff and reduce the need for wait staff
customers at the restaurant can order their meals and pay the check using the server's ipad; which of the following best states why management chose this system?
finished goods
long, efficient production runs make a sufficient inventory of products or services to meet customer demand.
the manager understands the availability of each alternative and the probability that each will have the desired outcome
managers make decisions under different types of conditions, what describes a state of risk?
procurement, inventory management, resource acquisition
netflix program portfolio managers have to anticipate which shows viewers will want and ensure those shows or shows like them are available on netflix; which aspects of supply chain management are involved? (3)
threat
only one supplier of materials is a _________
tactical plans and operational goals
operational plans are directly based on the ____________ (2)
good operations ensure competitiveness and overall organizational performance, operations management can create value and utility of one type or another, operations management enhance quality and productivity
operations management are helpful and important to managers because : (3)
capacity decision
service organizations transform resources into outputs just as manufacturing does; as manager of a beauty salon, you have to decide how many clients can be seen by each stylist in a given day. what kind of decision is this?
strategic plans and tactical goals
tactical plans are directly based on the _____________ (2)
defining the nature of a decision situation, identify feasible alternatives, putting the chosen alternative into practice
the basic decision making process includes all of the following:
strategic
the goals that are determined directly from the mission are the _______ goals
mission
the organization's ______- states the organization's purpose, premise, value, and direction
capacity
the quantity of products and/or services that the organization can produce if it wants is its:
total factor productivity
the ratio of the value of all an organization's outputs to the value of all its inputs is:
value added analysis
the total quality management (TQM) tool that assesses all activities, material flows, and paperwork to determine their relative contribution to value is called a:
sensor
thermostat testing the air is the _______ part of a simple automatic control mechanism
control
thermostat turning furnace on or off is the _______ part of a simple automatic control mechanism
raw materials
to control this inventory, the manager uses purchasing models and systems.
work in process
to control this inventory, the manager uses shop-floor control systems.
in transit
to control this inventory, the manager uses transportation and distribution control systems.
flexible manufacturing systems
to move materials as needed from one area of the system to another, ____________ typically incorporate robotic workstations, assembly lines, and robotic carts or some other type of computer controlled transport system
fixed position layout
type of layout of a physical configuration arranged around a single work area
process layout
type of layout where a physical configuration of facilities arranged around the process
product layout
type of layout where a physical configuration of facilities arranged around the product
develop
understanding the organization's tactical goals: _________ the plan
statistical quality control (SQC)
using a certain set of data analysis methods to monitor quality
six sigma
using a structured process to reduce defects to an almost undetectable level
product
vineyard makes 2.5 million cases of wine a year using grapes grown on its own 1,800 acres as well as grapes from around california; all the wines follow a similar path through the manufacturing process. since they makes nothing but wine, it should consider using a _______ layout for its configuration
use the best information available to inform decisions, analyze recommendations and look for potential downsides, promote experimentation with various alternatives to learn how well they work
what are (3) principles of evidence based management (EBM)?
to avoid conflict group members pretend to agree with each other, decision making takes more time, dominant group members exercise more influence than they should
what are common disadvantages of group or team decision making? (3)
feedback, information, sensors, a control mechanism
what are necessary for automation? (4)
reliability, aesthetics, durability, performance
what are some commonly recognized dimensions of quality? (4)
help managers make effective plans, motivate employees to achieve desired results, help managers evaluate the organization's performance
what are some functions that goals serve in organizations? (3)
aid in measuring results, prompt managers to make adjustments to improve performance, give people in the organization a unifying direction
what are some reasons that organizations set goals? (3)
raw materials, work in process, finished goods, in transit inventories
what are the four basic kinds of inventories?
a set of standards for environmental performance
what best describes ISO 14000?
the managers chooses the most effective course of action as indicated by the particular circumstances
what describes the best decision a manager can make?
features
what dimension of quality: i am always responsive to the expressed and unexpressed wishes and needs of our guests
durability
what dimension of quality: i am empowered to create unique, memorable, and personal experiences for our guests
aethetics
what dimension of quality: i am proud of my professional appearance, language, and behavior
conformance
what dimension of quality: i am responsible for uncompromising levels of cleanliness and creating a safe and accident-free environment
perceived quality
what dimension of quality: i build strong relationships and create ritz-carlton guests for life
serviceability
what dimension of quality: i own and immediately resolve guest problems
this mantra suggests that employees have some control over production by identifying process improvements, rather than just working more or faster
when giving advice to employees, managers might use the expression, "Work smarter, not harder." Businesses can raise productivity by investing more hours in production (either by having more employees working or having employees working more hours, respectively) or producing more in the same period through innovative advances in process. Which of the answers that follow best explains why this mantra is relevant for managing productivity?
facilities
when harry addresses decisions about where products and services are created, stored, and distributed, he is addressing the _______ aspect of operations systems design
when a variety of products are made
when is a process layout the best choice for a facility?
tactical
when top and middle managers develop ________ plans, they primarily discuss what the organization will do over the next one to five years
strategic
when top managers develop _______ plans, they primarily discuss resource allocation, competitive advantage, and synergies between different parts of the organization
strategy
when you decide how to invest resources in your organization's operations, including its ability to make different quantities of different products and where it will make them, your most important consideration will be the organization's:
action point 1
which action point in the contingency planning process: consider whether a political revolution could disrupt operations
action point 4
which action point in the contingency planning process: finish implementing the original plan
action point 2
which action point in the contingency planning process: identify a contingency event that would be highly disruptive
action point 3
which action point in the contingency planning process: identify how managers will know a contingency event is occurring
building a culture of encouraging everyone to tell the truth, treat your organization as unfinished, look for the risks and drawbacks of recommendations, avoid basing decisions on what you have done in the past, commit to gathering and using the best evidence
which are recommended evidence based management practices?
it assumes that managers use incomplete and imperfect information
which of the following best describes the administrative model of decision making?
managers cannot always assess all relevant information before making a decision, managers do not always make decisions based on the company's best interest, managers may lack time to consider new and previously untested alternatives
why is the rational decision-making process difficult to apply completely in many situations? (3)
programmed
you are the CEO of a large scanner manufacturer. you just caught a department manager embezzling money from your company; the decision you make about whether to fire the department manager is a ________ decision
involve employees to ensure pizzas are made right, improve the materials used to create the product
you need to improve the taste and texture of the pizza, what should you do? (2)
benchmark the perceived quality and customer satisfaction of your pizza against competitor's, publicize your strategic commitment to quality
you need to reassure prospective customers that you will deliver on your promise of better pizza; which of the following should you do? (2)
stars
deserving of large investment to support continued growth on the BCG matrix
profit producer
deserving sufficient investment to maintain its competitiveness on the GE business screen
managers should optimize, which means balancing and reconciling possible conflicts among goals
organizations set a wide variety of goals, and occasionally these goals conflict with one another or contradict one another. what should managers do in such situations?
ethics
personal beliefs about right and wrong
strength
providing excellent customer service is a ________
opportunity
rising customer demand for the organization's services is an _______
strategy formulation
sam owns a small cafe that faces competition from a new restaurant across the street. Sam may want to perform a SWOT analysis, or a systematic evaluation of the internal and external environments, to inform his ___________
new products, mergers and acquisitions, replacement of suppliers and customers
what allows a firm to become diversified (3):
mission and strategic goals
strategic plans are directly based on the ___________
tactical goals
the goals that are directly based on the strategic goals and plans are the _________
analyze strategy
the managers at a corporation with several lines of business decide to invest in some new, high-risk ventures while providing just enough resources to existing businesses to maintain their market share. In terms of the miles and snow typology, which strategy are these managers pursuing?
premises, values, directions, purpose
the organization's mission include:
false
T/F strategy formulation focuses on how the strategy is achieved, while strategy implementation focuses on what the strategy is
defender
which strategy: helps maintain stable growth by protecting current marketing and serving current customers
opportunities; external
when referring to a SWOT analysis, the letter O stands for _________ , and it refers to factors that are ________ to the organization.
true
T/F portfolio management techniques are methods that diversified organizations use to determine which businesses to engage in and how to manage these businesses to maximize corporate performance.
tactical
__________ goals are set by and for middle management
direct manufacturing to standardize production so many products can be made at low cost, direct product designers to consider how products can be inexpensively made, drive the value of efficiency throughout the organizational culture so that employees are highly cost-conscious
a CEO is using porter's overall cost leadership strategy; what course of action is the manager likely to take? (3)
portfolio management
a _____________ technique used by Proctor & Gamble is meant to minimize risk by selling a large number of diverse products.
loser
a candidate for divestiture on the GE business screen
global efficiencies
a company decides to operate internationally to gain ______ when it plans to look in several countries for a location and select the best one.
balance and reconcile competing goals
a manager is asked to optimize a set of goals. What is the manager being asked to do?
organizational threat
until recently, Peter Smith's company had no competition for sales of its one-of-a-kind products; however, two online stores selling similar products recently opened, which represents an ___________ to his company.
prospector, defender, analyzer, reactor
what are components of the mile and porter typology?
strategy formulation
what are managers focusing on when they determine the organization's strategy?
to give people in the organization a unifying direction, to prompt managers to make adjustments to improve performance, to aid in measuring results
what are reasons that organizations set goals?
unique historical circumstances, complex social phenomenon like organizational culture, unique nature and character of the firm
what are some barriers to imitating distinctive competence (3)?
home replication strategy, multi-domestic strategy, global strategy, and transnational strategy
what are strategic alternatives for international businesses?
in charge of putting the strategy into action and plays a significant part in the whole planning process
what are the CEO's responsibilities for planning?
global efficiencies, multi-market flexibility, worldwide learning
what are the three sources of competitive advantage available to international firms?
programs and projects
what are the two forms of single use plans that are used the most?
use resources to fix the weakness, and change the organization's mission so the organization no longer needs to rely on the weakness
what decisions can be an effective way for a manager to address an organizational weakness? (2)
it assumes the managers are rational, and it assumes that managers act in the best interests of the organization
what describes the classical model of decision making?
a programmed decision is generally more structured and more frequently recurring than a nonprogrammed decision.
what is the difference between a programmed and a nonprogrammed decision?
understanding the organizational environment
what is the first step of planning?
timelines and resources
what must be specified in tactical planning?
sign a free-agent outfielder to bolster the current roster and sign the young pitchers to long-term contracts.
what strategy would make the most sense for the championship team as it prepares for the upcoming season?
related diversification
what type of diversification shares similar technology, common distribution and marketing skills, common brand name and reputation, and common customers?
standing plans
what type of plans are developed for activities that recur regularly over a period of time?
acquisition
when an _______ occurs, a larger organization purchases a smaller one.
synergy
when businesses' economic value together is greater than their economic value separately:
