Exam Two Notes
Exam Two Notes MGT 300
Popular in MGT 300 Organizational Theory and Behavior
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This 5 page Study Guide was uploaded by Emily Holland on Thursday October 29, 2015. The Study Guide belongs to MGT 300 at University of Alabama - Tuscaloosa taught by Eric Williams in Fall 2015. Since its upload, it has received 23 views. For similar materials see MGT 300 Organizational Theory and Behavior in Business at University of Alabama - Tuscaloosa.
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Date Created: 10/29/15
Test Two Study Guide CHAPTER FIVE 1 Relationship between planning and strategic management planning is coping with uncertainty by formulating future courses of action to achieve speci ed results strategic management is a process that involves managers from all parts of the organization in the formulation and the implementation of strategies or strategic goals Four Basic Strategic Types Strategic Planning 15 year plan used in top management makes longterm decisions about overall direction of organization 4 Tactical planning 624 months plan used in middle management implementing policies and plans of top management and supervise and coordinate activities of rstline management below 5 Operational planning 152 weeks plan used in rstline management directing daily tasks of nonmanagerial personnel predictable decisions 6 Mission Statements quotwhat is our reason for beingquot expresses the purpose of the organization 7 Vision Statement quotwhat do we want to becomequot longterm goal describing war an organization wants to become A clear sense of the future and the actions needed to get there 8 Strategic goals set by and for top management and focus on objectives for the organization as a whole 9 Tactical goals set by and for middle managers and focus on the actions needed to achieve strategic goals 10 Organizational goals set by and for rstline managers and are concerned with shortterm matters associated with realizing tactical goals JUN 11 SMART goals Speci c Measurable Attainable Result oriented support an organization s vision Target Dates 12 Management bv obiectives 4 step process in which 1 managers and employees jointly set objectives for the employees 2 managers develop action plans 3 managers and employees periodically review the employee s performance and 4 the manager makes a performance appraisal and rewards the employee according to results 13 PlanningControl Cycle has two planning steps and two control steps as follows 1 make the plan 2 carry out the plan 3 control the direction by comparing results with the plan 4 control the direction by taking corrective action by two ways namely a by correcting deviations in the plan being carried out or b by improving future plans CHAPTER SIX 1 Strategic positioning attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company Strategic management process establish the mission and the vision statement assess the current reality formulate the grand strategy maintain strategic control Grand strategies explains how the organization s mission is to be accomplished common grand strategies are growth stability and defensive implementation is the most important part top managers need to check on possible roadblocks within the organization s structure and culture and see if the right people and control systems are available to execute the plans SWOT analysis strengths weaknesses opportunities and threats this is also known as a situation analysis Porter s ve forces model 1 threats of new entrants 2 bargaining power of suppliers 3 bargaining power of buyers 4 threats of substitute products or service 5 rivalry among competitors Porter s four competitive strategies 1 costleadership strategy keep the costs and hence prices of a product or service below those of competitors and to target a wide market 2 differentiation strategy offer products or services that are of unique and superior value compared with those of competitors but to target a wide market 3 costfocus strategy keep the cost and hence prices of a product or service below those of competitors and to target a narrow market 4 focused differentiation strategy offer products or services that are of unique and superior value compared to those of competitors and to target a narrow market BCG matrix a means of evaluating strategic business units on the basis of 1 their business growth rates and 2 their share of the market Market Growth I High OW 8 Market Share Hligh Low ues on Stars Q Marks Cash Cows Dogs Execution central part of a company s strategy It consists of using questioning analysis and followthrough to mesh strategy with reality align people with goals and achieve results promised CHAPTER EIGHT Organizational culture de ned as a set of shared takenfor granted implicit assumptions that a group holds and that determine how it perceives thinks about and reacts to its various environments They are the beliefs and values shared among a group of people in the workplace that are passed onto new employees by way of socialization and mentoring which signi cantly affect work outcomes at all levels Cllan Adhocracy i39r39a lues cahesicrn partici Dynamic entrepreneurial Flexible patian cammunicatian a people take risks values personal place like a fa mily in novation adaptability m mentoring nurturing tight grawth in navati39an cutting S ClEl netwcrks edge39s39ervli ces or products 4 u 7 in Here rchv Market Fauars structure 3 cntra l Resultsar iented getting the Stable coordinatian 8 efficiency jab dane values campet i tian 8a stalzlill it jlr is impartant achievement custmer efficiency timeliness smcuoth driven achievement processes lnwa rd Outward Levels of organizational culture level 1 observable artifacts physical manifestations such as manner of dress awards myths and stories about the company rituals and ceremonies and decorations as well as visible behavior exhibited by manager and employees level 2 espoused values explicitly stated values and norms preferred by an organization level 3 basic assumptions they are not observable and represent the core values of an organization s culture These are difficult to change How employees learn culture 1 symbols object act quality or event that conveys meaning to others 2 stories narrative based on true events which is repeated and sometimes embellished upon to emphasize a particular value 3 heroes a person whose accomplishments embody the values of the organization 4 rites and rituals activities and ceremonies planned and unplanned that celebrate important occasions and accomplishments in the organization s life Process of culture change changing organizational culture is essentially a teaching process formal statements slogans and sayings rites and rituals stories legends and myths leader reaction to crisis role modeling training and coaching physical design rewards titles promotions and bonuses organizational goals and performance goals measurable and controllable activities organizational structure organizational systems and procedures Common elements of organizational structure common purpose coordinated effort division of labor hierarchy of authority span of control narrow manager has limited number of people reporting to him wide manager has several people reporting authority responsibility and delegation centralization important decisions are made by higher level managers versus decentralization of authority Organizational structures a Simple centralized authority in a single person at hierarchy few rules and low work specialization b Functional people with similar occupational specialties are put together in a formal group c Divisional people with diverse occupational specialties are put together in formal groups by similar products or services customer and clients or geographic regions d Matrix an organization combines functional and divisional chains of command in a grid so that there are two command structures vertical and horizontal e Horizontal teams or workgroups either temporary or permanent are used to improve collaboration and work on shared tasks by breaking down internal boundaries f Hollow the organization has a central core of key functions and outsources other functions to vendors who can do them faster and cheaper Mechanistic organization authority is centralized tasks and rules are clearly speci ed and employees are closely supervised Organic organization authority is decentralized there are fewer rules and procedures and networks of employees are encouraged to cooperate and respond quickly to unexpected tasks
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