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10 ll 12 13 14 The major actions by which a business competes in a particular industry or market Answer Business strategy A strategy employed for an organization that operates a single business and competes in a single industry Answer Concentration A strategy used to add new businesses that produce related products or are involved in related markets and activities Answer Concentric diversification A strategy used to add new businesses that produce unrelated products or are involved in unrelated markets and activities Answer Conglomerate diversification The unique skills andor knowledge an organization possesses that give it an edge over competitors Answer Core competencies The set of businesses markets or industries in which an organization competes and the distribution of resources among those entities Answer Corporate strategy A strategy an organization uses to build competitive advantage by being unique in its industry or market segment along one or more dimensions Answer Differentiation strategy Strategies implemented by each functional area of the organization to support the organization39s business strategy Answer Functional strategies A target or end that management desires to reach Answer Goal A strategy an organization uses to build competitive advantage by being efficient and offering a standard nofrills product Answer Lowcost strategy An organization39s basic purpose and scope of operations Answer Mission The process of identifying the specific procedures and processes required at lower levels of the organization Answer Operational planning The actions or means managers intend to use to achieve organizational goals Answer Plans Inputs to a system that can enhance performance 15 16 17 18 19 20 21 22 23 24 25 26 Answer Resources A narrative that describes a particular set of future conditions Answer Scenario A process planners use within time and resource constraints to gather interpret and summarize all information relevant to the planning issue under consideration Answer Situational analysis Groups and individuals who affect and are affected by the achievement of the organization39s mission goals and strategies Answer Stakeholders A system designed to support managers in evaluating the organization39s progress regarding its strategy and when discrepancies exist taking corrective action Answer Strategic control system Major targets or end results relating to the organization39s longterm survival value and growth Answer Strategic goals A process that involves managers from all parts of the organization in the formulation and implementation of strategic goals and strategies Answer Strategic management A set of procedures for making decisions about the organization39s longterm goals and strategies Answer Strategic planning The longterm direction and strategic intent of a company Answer Strategic vision A pattern of actions and resource allocations designed to achieve the organization39s goals Answer Strategy A comparison of strengths weaknesses opportunities and threats that helps executives formulate strategy Answer SWOT analysis A set of procedures for translating broad strategic goals and plans into specific goals and plans that are relevant to a distinct portion of the organization such as a functional area like marketing Answer Tactical planning The acquisition or development of new businesses that produce parts or components of the organization39s product Answer Vertical Integration 27 28 29 30 31 32 33 34 35 36 37 38 39 A perspective that goes beyond the conventional rules of society by suggesting that what is moral must also come from what a mature person with good quotmoral characterquot would deem right Answer Virtue ethics An ethical system stating that the greatest good for the greatest number of people should be the overriding concern of decision makers Answer Utilitarianism The ethical system stating that all people should uphold certain values such as honesty and other values that society needs to function Answer Universalism Economic growth and development that meets the organization39s present needs without harming the ability of future generations to meet their needs Answer Sustainable growth An act passed into law by Congress in 2002 to establish strict accounting and reporting rules in order to make senior managers more accountable and to improve and maintain investor confidence Answer SarbanesOxley Act Bases ethical behavior on the opinions and behaviors of relevant other people Answer Relativism Additional behaviors and activities that society finds desirable and that the values of the business support Answer Philanthropic responsibilities Principles rules and values people use in deciding what is right or wrong Answer Moral philosophy A process of analyzing all inputs and outputs through the entire quotcradletogravequot life of a product to determine the total environmental impact of the production and use of a product Answer Lifecycle analysis LCA To obey local state federal and relevant international laws Answer Legal responsibilities Classifies people into categories based on their level of moral judgment Answer Kohlberg39s model of cognitive moral development Company mechanisms designed to instill in people a personal responsibility for ethical behavior Answer Integritybased ethics programs The system of rules that governs the ordering of values Answer Ethics 40 41 42 43 44 45 46 47 48 49 50 51 52 Meeting other societal expectations not written as law Answer Ethical responsibilities One who is both a moral person and a moral manager in uencing others to behave ethically Answer Ethical leader Situation problem or opportunity in which an individual must choose among several actions that must be evaluated as morally right or wrong Answer Ethical issue In an organization it refers to the processes by which decisions are evaluated and made on the basis of right and wrong Answer Ethical climate An ethical system defining acceptable behavior as that which maximizes benefits for the individual Answer Egoism To produce goods and services that society wants at a price that perpetuates the business and satisfies its obligations to investors Answer Economic responsibilities Its goal is the creation of sustainable economic development and improvement of quality of life worldwide for all organizational stakeholders Answer Ecocentric management Obligation toward society assumed by business Answer Corporate social responsibility Company mechanisms typically designed by corporate counsel to prevent detect and punish legal violations Answer Compliancebased ethics programs Ethical principles established by international executives based in Caux Switzerland in collaboration with business leaders from Japan Europe and the United States Two basic ethical ideals underpin the Caux Principles kyosei and human dignity Answer Caux Principles The moral principles and standards that guide behavior in the world of business Answer Business ethics The reporting structure and division of labor in an organization Answer organization chart An aspect of the organization39s internal environment created by job specialization and the division of labor 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 Answer differentiation The degree to which differentiated work units work together and coordinate their efforts Answer integration The assignment of different tasks to different people or groups Answer division of labor A process in which different individuals and units perform different tasks Answer specialization The procedures that link the various parts of the organization to achieve the organization39s overall mission Answer coordination The role of a corporation39s executive staff and board of directors in ensuring that the firm39s activities meet the goals of the firm39s stakeholders Answer corporate governance The legitimate right to make decisions and to tell other people what to do Answer authority The authority levels of the organizational pyramid Answer hierarchy Subdivisions of an organization Answer subunits The number of subordinates who report directly to an executive or supervisor Answer span of control The assignment of new or additional responsibilities to a subordinate Answer delegation The assignment of a task that an employee is supposed to carry out Answer responsibility The expectation that employees will perform a job take corrective action when necessary and report upward on the status and quality of their performance Answer accountability An organization in which highlevel executives make most decisions and pass them down to lower levels for implementation Answer centralized organization An organization in which lowerlevel managers make important decisions Answer decentralized organization Units that deal directly with the organization39s primary goods and services 68 69 70 71 72 73 74 75 76 77 78 79 80 81 Answer line departments Units that support line departments Answer staff departments Subdividing an organization into smaller subunits Answer departmentalization Departmentalization around specialized activities such as production marketing and human resources Answer functional organization Departmentalization that groups units around products customers or geographic regions Answer divisional organization An organization composed of dual reporting relationships in which some managers report to two superiors a functional manager and a divisional manager Answer matrix organization A structure in which each worker reports to one boss who in turn reports to one boss Answer unityof command principle A collection of independent mostly single function firms that collaborate on a product or service Answer network organization Temporary arrangements among partners that can be assembled and reassembled to adapt to the environment Answer dynamic network A person who assembles and coordinates participants in a network Answer broker Establishing common routines and procedures that apply uniformly to everyone Answer standardization The presence of rules and regulations governing how people in the organization interact Answer formalization Interdependent units are required to meet deadlines and objectives that contribute to a common goal Answer coordination by plan Units interact with one another to make accommodations in order to achieve exible coordination Answer coordination by mutual adjustment A form of leadership in which the leader makes decisions on his or her own then announces those decisions to the group 82 83 84 85 86 87 88 89 90 91 92 93 94 Answer Autocratic leadership A leadership perspective that attempts to identify what good leaders do that is what behaviors they exhibit Answer Behavioral approach A person who is dominant selfconfident convinced of the moral righteousness of his or her beliefs and able to arouse a sense of excitement and adventure in followers Answer Charismatic leader A form of leadership in which the leader solicits input from subordates Answer Democratic leadership Actions taken to ensure the satisfaction of the group members develop and maintain a harmonious work relationships and preserve social stability of the group Answer Group maintenance behaviors A leadership philosophy characterized by an absence of managerial decision making Answer Laissezfaire Highlights the importance of leader behaviors not just toward the group as a whole but toward individuals on a personal basis Answer LeaderMember Exchange theory Leader behaviors that managers perform in involving their employees in making the decision Answer Participation in decision making A theory that concerns how leaders in uence subordinates perception of their work goals and the paths they follow toward attainment of those goals Answer Path goal theory The ability to in uence others Answer Power Leadership perspective purposing that universally important traits and behaviors do not exist and that effective leadership behaviors varies from situation to situation Answer Situational approach Behavior that gives purpose and meaning to organizations envisioning and creating a positive future Answer Strategic leadership Factors in the workplace that can exert the same in uence on employees that leaders would provide Answer Substitutes for leadership Behavior that provides guidance support and corrective feedback for day to day activities Answer Supervisory leadership 95 96 97 98 99 100 Actions taken to ensure that the work group or organization reaches its goals Answer Task performance behaviors A leadership perspective that attempts to determine the personal characteristics the great leaders share Answer Trait approach Leaders who manage through transactions using their legitimate reward and coercive powers to give commands and exchange rewards for services rendered Answer Transactional leaders A leader who motivates to transcend their personal interests for the good of the group Answer Transformational leader A mental image of a possible and desirable future state of the organization Answer Vision A situational model that focuses on the participative demension of leadership Answer Vroom model
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