Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Chapter 9
Chapter 9 Selections
| Question | Answer |
|---|---|
| Strategic implementation | sum total of the activities and choices required for the execution of a strategic plan. |
| Who implements | In most large, multi-industry corporations, the implementers are everyone in the organization. |
| Program purpose | to make a strategy action oriented. |
| Budget | Planning a budget is the last real check a corporation has on the feasibility of its selected strategy. |
| Procedures | Standard Operating Procedures (SOPs) detail various activities that must be carried out to complete a corporation’s programs. Also known as organizational routines, procedures are the primary means by which organizations accomplish much of what they do |
| Synergy | said to exist for a divisional corporation if the return on investment (ROI) of each division is greater than what the return would be if each division were an independent business. |
| Structure follows strategy | changes in corporate strategy lead to changes in organizational structure |
| Stages of corporate development | The differences among these three structural stages of corporate development in terms of typical problems, objectives, strategies, reward systems, and other characteristics |
| Stage I: Simple Structure | typified by the entrepreneur, who founds a company to promote an idea (a product or a service). |
| Stage II: Functional Structure | Stage II is the point when the entrepreneur is replaced by a team of managers who have functional specializations. |
| Stage III: Divisional Structure | Stage III is typified by the corporation’s managing diverse product lines in numerous industries; it decentralizes the decision-making authority. |
| Stage IV: Beyond SBUs | The use of SBUs may result in a red tape crisis in which the corporation has grown too large and complex to be managed through formal programs and rigid systems, and procedures take precedence over problem solving |
| Matrix structure (types) | Top management, manufacturing, sales, finance, HR |
| Network structure (types) | packagers, suppliers, distributors, promotion/advertising, manufacturers, designers, all linked to corporate HQ in the middle |
| Network structure | termed a “non-structure” because of its virtual elimination of in-house business functions. Many activities are outsourced. |
| Virtual organization | composed of a series of project groups or collaborations linked by constantly changing nonhierarchical, cobweb-like electronic networks. |
| Reengineering | redesign of business processes to achieve major gains in cost, service, or time. |
| Six Sigma | Six Sigma reduces the defects to only 3.4 per million—thus saving money by preventing waste. Define, Measure, Analyze, Improve, Establish |
| Job design | study of individual tasks in an attempt to make them more relevant to the company and to the employee(s). |
| job enlargement | (combining tasks to give a worker more of the same type of duties to perform) |
| job rotation | (moving workers through several jobs to increase variety) |
| job enrichment | (altering the jobs by giving the worker more autonomy and control over activities) |
| MNC | highly developed international company with a deep involvement throughout the world, plus a worldwide perspective in its management and decision making. |
| Stages of international development | Corporations operating internationally tend to evolve through five common stages, both in their relationships with widely dispersed geographic markets and in the manner in which they structure their operations and programs. |
| Stage 1 (domestic) | The primarily domestic company exports some of its products through local dealers and distributors in the foreign countries. The impact on the organization’s structure is minimal because an export department at corporate headquarters handles everything. |
| Stage 2 (domestic with export division) | establish its own sales company with offices in other countries to eliminate the middlemen and to better control marketing. Because exports have now become more important, the company establishes an export division to oversee foreign sales offices. |
| Stage 3 (Primarily domestic company with international division) | establish manufacturing facilities in addition to sales and service offices in key countries. The company now adds an international division with responsibilities for most of the business functions conducted in other countries. |
| Stage 4 (Multinational corporation with multidomestic emphasis) | increases its investments in other countries |
| Stage 5 (MNC with global emphasis) | worldwide human resources, R&D, and financing strategies. Typically operating in a global industry, the MNC denationalizes its operations and plans product design, manufacturing, and marketing around worldwide considerations. |
| Centralization | organize authority centrally so that it operates as a vast interlocking system that achieves synergy |
| Decentralization | local managers can make the decisions necessary to meet the demands of the local market or host government |
| Product-group structure | enables the company to introduce and manage a similar line of products around the world. |
| geographic-area structure | allows the company to tailor products to regional differences and to achieve regional coordination. |
Created by:
514734223
Popular Business sets