Planning & Strategy
A comprehensive plan for achieving an organization’s long-term goals.
What is a strategic plan?
The standards of right and wrong that influence behavior.
What is ethics?
A structure that groups jobs by functions such as marketing, finance, and operations.
What is a functional structure?
Shared values and beliefs that influence employee behavior.
What is organizational culture?
Translating strategy into objectives and performance measures across multiple perspectives.
What is the balanced scorecard?
The process of monitoring the external environment to identify opportunities and threats.
What is environmental scanning?
The belief that ethical decisions should produce the greatest good for the greatest number.
What is utilitarianism?
A structure that groups employees by product, customer, or geographic region.
Question: What is a divisional structure?
What is a divisional structure?
Visible organizational structures, processes, and symbols are known as these.
What are artifacts?
Goals that are specific, measurable, attainable, results-oriented, and time-bound.
What are SMART goals?
A tool used to assess internal strengths and weaknesses and external opportunities and threats.
What is a SWOT analysis?
Acting ethically out of a sense of duty and respect for rules describes this perspective.
What is the rights (or deontological) approach?
This structure combines functional and divisional forms and has dual lines of authority.
What is a matrix structure?
The deeply embedded, unconscious beliefs that truly guide behavior.
What are underlying assumptions?
A competitive force that examines the bargaining power of buyers and suppliers.
What is Porter’s Five Forces model?
A strategy focused on producing goods or services at the lowest cost relative to competitors.
What is a cost leadership strategy?
A company’s obligation to pursue policies and actions that benefit society is known as this.
What is corporate social responsibility (CSR)?
The degree to which decision-making authority is concentrated at higher levels.
What is centralization?
A culture that emphasizes stability, control, and efficiency is known as this type.
What is a hierarchy culture?
The idea that strategy, structure, and culture must work together for success reflects this concept.
What is strategic alignment?
A strategy that attempts to create a unique product or service that customers perceive as different.
What is a differentiation strategy?
The four-part framework that includes economic, legal, ethical, and philanthropic responsibilities.
What is the pyramid of CSR?
The extent to which tasks are divided into separate jobs.
What is work specialization?
The process through which employees learn the organization’s culture.
What is organizational socialization?
When organizations fail to adapt to changes in the environment due to rigid structures or culture.
What is strategic inertia?