Advertisement Upgrade to remove ads

Ch 6-10 MGMT 2009-2010

BCG Matrix

a portfolio strategy developed by the Boston Consulting Group that categorizes a corporation's businesses by growth rate and relative market share and helps managers decide how to invest corporate funds.

SWOT Analysis

A comparison of strengths, weaknesses, opportunities, and threats that helps executives formulate strategy.

Grand Strategies

stability, growth, retrenchment

Organizational Change

a difference in the form, quality, or condition of an organization over time

Organization Development

A philosophy and collection of planned changes and designs to improve long term health and performance of an organization.

resistance forces

forces that support the existing state of conditions in organizations

resistance to change

opposition to change resulting from self interest misunderstandings and distrust or a general intolerance for change

change forces

forces that produce differences in the form, quality, or condition of an organization over time

Ways to enter global markets

Outsourcing, exporting, licensing, and direct investment

Licensing

An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time.

direct foreign investment

a method of investement in which a company builds a new buisness or buys a existing business in a foreign country

power distance

Extent people accept differences in power among institutions, organizations, and people

Cultural differences

power distance, individualism, masculinity and femininity, uncertainty avoidance, and short-term vs. long-term orientation

short-term/long-term orientation

Addresses whether cultures are oriented to the present and seek immediate gratification or to the future and defer gratification. Short-term countries are consumer driven, while long-term countries are savings driven. USA, Russia, West Africa are short-term, while China and Hong Kong are long-term.

Masculine cultures

cultures that value agressiveness, strength, and material symbols of success. Ex: Japan, US, and Germany.

Feminine cultures

A culture that emphasizes characteristics stereotypically associated with feminine people, such as sexual equality, nurturance, quality of life, supportiveness, affection, and a compassion for the less fortunate. Ex: Netherlands

uncertainty avoidance

the degree to which individuals in a society feel uncomfortable with situations that are unstructured, unclear, or unpredictable. Strong ex: Japan, France, and Russia. Weak: Hong Kong

Stages of team development

Forming (orientation, breaking the ice), Storming (conflict, disagreement), Norming (establishment of order and cohesion), Performing (cooperation and problem solving), Adjourning (task completion)

Chain of Command

Related to unity of command and the scalar principle.

Tall structure

Has a narrow span and more hierarchical levels

5 Departmentalization structures

Functional, Product, Customer, Geographic, Matrix

Functional departmentalization

organizing work and and workers into separate units responsible for particular buisness functions or area of expertise

Product departmentalization

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

Customer departmentalization

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

Geographic departmentalization

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

Matrix departmentalization

a hybrid organizational structure in which two or more forms of departmentalization most often product and functional are used together

work specialization

the degree to which organizational tasks are subdivided into individual jobs; also called division of labor

span of management

The number of employees reporting to a supervisor; also called span of control

organizing

management process of determining how best to arrange an organization's resources and activities into a coherent structure

organization structure

the framework in which the organization defines how tasks are divided, resources are deployed, and departments are coordinated

Bargaining Power of Suppliers

Many suppliers = companies can bargain for lower prices. Few suppliers = suppliers can set prices.

Bargaining Power of Buyers

Many customers = company sets prices. Ex: Walmart. Few customers (high volume) = company is dependent on its customer base, therefore the customers can bargain the prices down.

Cost Leadership

the positioning strategy of producing a product or service of acceptable quality at consistently lower production cost than competitors can so that the firm can offer the product or service at the lowest price in the industry

Character of Rivalry

measure of the intensity of competitiveness between companies

centralization

the degree to which decision making is concentrated at a single point in the organization

decentralization

the process of pushing decision-making authority down the organizational hierarchy.

Please allow access to your computer’s microphone to use Voice Recording.

Having trouble? Click here for help.

We can’t access your microphone!

Click the icon above to update your browser permissions above and try again

Example:

Reload the page to try again!

Reload

Press Cmd-0 to reset your zoom

Press Ctrl-0 to reset your zoom

It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.

Please upgrade Flash or install Chrome
to use Voice Recording.

For more help, see our troubleshooting page.

Your microphone is muted

For help fixing this issue, see this FAQ.

Star this term

You can study starred terms together

NEW! Voice Recording

Create Set