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UA / Marketing / MKT 300 / What is a strategic business unit?

What is a strategic business unit?

What is a strategic business unit?

Description

School: University of Alabama - Tuscaloosa
Department: Marketing
Course: Marketing
Professor: Susan fant
Term: Spring 2015
Tags: MGT, mgt300, and Management
Cost: 50
Name: MGT 300 Study Guide for Test 3
Description: This study guide covers all of the questions for test 3.
Uploaded: 10/30/2016
4 Pages 138 Views 9 Unlocks
Reviews


Review Day- Test 3


What is a strategic business unit?



Chapter 10: T/F

1. What competitive advantage is- the ability to do something so well that one outperforms competitors  

2. The steps in the strategic management process- 1) strategic  analysis- assessing competitive position- identify and analyze:  mission, stakeholders, core values and culture, objectives; analyze  organization and environment: organizational strengths and  weaknesses, environmental opportunities and threats, rivalry and  industry attractiveness  2) strategy formulation- creating  strategies- revise objectives and select new strategies: corporate  strategies, business strategies, functional strategies  3) strategy  implementation- putting strategies into action- implement strategies: management systems and practices, strategic leadership; evaluate  results and make adjustments: strategic control, corporate  governance, renew strategic management process  


What is a business strategy?



3. What stake holders are- individuals and groups directly affected by the  organization and its strategic accomplishments  

4. What makes an industry attractive- few competitors, high barriers to  entry, few substitute products, low power of suppliers, and low power  of customers

5. What the BCG matrix is- analyzes business opportunities according to  market growth rate and market share If you want to learn more check out What is civic culture?

6. What vertical integration is- growth by diversification; where a business moves upstream (farther from customers) to acquire its suppliers  7. What a growth strategy is- seek to expand the size and scope of  operations; the goal is to increase total revenue, product or service  lines, and operating locations  If you want to learn more check out Where was the stegosaurus fossil found?

Chapter 10: MC

1. What a strategic business unit is- describe a business that operates as  part of a larger enterprise, such as Zappos within Amazon


What is a corporate strategy?



2. What a business strategy is- identifies how a division or strategic  business unit will compete in its product or service domain; how are we going to compete for customers in this industry and market?

3. What a corporate strategy is- sets long term direction for the total  enterprise; the highest level; in what industries and markets should we compete?

4. What a functional strategy is- guides activities within one specific area  of operations; how can we best utilize resources within a function to  implement out business strategy? Don't forget about the age old question of What is europe’s climate?

5. What a strategic analysis is- the process of analyzing the organization,  the environment, and the organization’s competitive position and  current strategies

8. The steps in the strategic management process- 1) strategic  analysis- assessing competitive position- identify and analyze:  mission, stakeholders, core values and culture, objectives; analyze  organization and environment: organizational strengths and  weaknesses, environmental opportunities and threats, rivalry and  industry attractiveness  2) strategy formulation- creating  strategies- revise objectives and select new strategies: corporate  strategies, business strategies, functional strategies  3) strategy  implementation- putting strategies into action- implement strategies: management systems and practices, strategic leadership; evaluate  results and make adjustments: strategic control, corporate  governance, renew strategic management process  We also discuss several other topics like How does oil differ from the formation of coal?

6. What corporate culture is- broad beliefs about what is or is not  appropriate behavior  

7. What SWOT analysis is- a special strength that gives an organization a  competitive advantage; internal analysis of organizational strengths  and weaknesses as well as external analysis of environmental  opportunities and threats  We also discuss several other topics like What is the capital of thailand?

Chapter 12: T/F

1. What organizational culture is- the system of shared beliefs and values  that guides behavior in organizations  

2. What ethnocentrism is- the belief that one’s membership group and  subculture or co-culture is superior to all others

3. What subcultures are- 1) organizational subcultures- consist of  members who share similar beliefs and values based on their work,  personal characteristics, or social identities; 2) generational  subcultures- form among persons who work together and share  similar ages, such as millennials and baby boomers; 3) gender  subcultures- form among persons who share gender identities and  display common patterns of behavior; 4) occupational and  functional subcultures- form among persons who share the same  skills and work responsibilities; 5) ethnic or national subcultures form among people who work together and have roots in the same  ethnic community or nationality

4. What the leaking pipeline is- where glass ceilings and other obstacles  cause qualified and high performing women to drop out of upward  career paths  

5. What biculturalism is- when minority members display characteristics  of majority cultures in order to succeed  

6. From where different kinds of change arise- 1) change leader- takes  initiative in trying to change the behavior of another person or within a social system; 2) top down change- the change initiatives come from senior management; 3) bottom up change- change initiatives come  from all levels in the organization; 4) transformational change- We also discuss several other topics like Group of related organisms that can interbreed and produce fertile, viable offspring.

results in a major and comprehensive redirection of the organization;  5) incremental change- bends and adjusts existing ways to improve  performance

Chapter 12: MC

1. What organizational culture is- the system of shared beliefs and values  that guides behavior in organizations

2. How new organizational members are brought on board 3. How an organization’s core beliefs are communicated

4. Different kinds of subcultures- 1) organizational subcultures consist of members who share similar beliefs and values based on their work, personal characteristics, or social identities; 2) generational  subcultures- form among persons who work together and share  similar ages, such as millennials and baby boomers; 3) gender  subcultures- form among persons who share gender identities and  display common patterns of behavior; 4) occupational and  functional subcultures- form among persons who share the same  skills and work responsibilities; 5) ethnic or national subcultures form among people who work together and have roots in the same  ethnic community or nationality

5. Achievement barriers in organizations

6. The direction strategic change can take on

7. Types of change in organizations- 1) change leader- takes initiative in trying to change the behavior of another person or within a social  system; 2) top down change- the change initiatives come from senior management; 3) bottom up change- change initiatives come from all levels in the organization; 4) transformational change- results in a  major and comprehensive redirection of the organization; 5)  incremental change- bends and adjusts existing ways to improve  performance

Chapter 13: T/F

1. What human capital is- the economic value of people with job-relevant  knowledge, skills, abilities, ideas, energies, and commitments 2. What a job description is- details the duties and responsibilities of a job holder

3. What person organization fit is- who fits the job best  

4. The role of strategic HRM- mobilizes human capital to implement  organizational strategies

5. What job analysis is- studies exactly what is done in a job and why; the systematic evaluation of job facets to determine what is done when,  where, how, why, and by whom

6. Various kinds of recruitment- 1) external recruitment- seeks job  applicants from outside the organization; 2) social recruiting- where

employers browse social media sites looking for prospective job  candidates; 3) internal recruitment- seeks job applicants from inside the organization; 4) traditional recruitment- focuses on selling the  job and organization to applicants

7. How selection processes are evaluated- 1) screening applicant  information  2) interview or site visit  3) employment testing  4)  preemployment checks

8. What is involved in on boarding- familiarizes new hires with the  organization’s mission and culture, their hobs and co-workers, and  performance expectations  

Chapter 13: MC

1. What human capital is- the economic value of people with job-relevant  knowledge, skills, abilities, ideas, energies, and commitments 2. What human resource management is- a process of attracting,  developing, and maintaining a talented workforce

3. About the alignment between the person and the firm- person-job fit the extent to which an individual’s knowledge, skills, experiences and  personal characteristics are consistent with the requirements of their  work  

4. About HRM and the law- 1) job discrimination- occurs when someone is denied a job or work assignment for reasons that are not job  relevant; 2) equal employment opportunity- is the requirement that employment discretions be made without regard to sex, race, color,  ethnicity, national origin, able bodiedness, or religion; 3) affirmative  action- an effort to give preference in employment to women and  minority group members who have traditionally been  

underrepresented  

5. What job analysis is- studies exactly what is done in a job and why; the systematic evaluation of job facets to determine what is done when,  where, how, why, and by whom

6. What a job description is- details the duties and responsibilities of a job holder

7. The steps in the HRM process- 1) attracting a qualified workforce  2)  developing a quality workforce  3) maintaining a quality workforce 8. How selection techniques are evaluated- 1) screening applicant  information  2) interview or site visit  3) employment testing  4)  preemployment checks

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