Are we there yet?
setting goals and deciding how to achieve them
What is: Planning
when group members reach an agreement to support the final decision
What is: Consensus
The course of action needed to achieve a stated goal.
What is: An action plan
An organization's reason for being
What is: Mission Statement
someone trained about matters of ethics in the workplace, particularly about resolving ethical dilemmas
What is: ethics officer
achieving sustainable competitive advantage by preserving what is distinctive about a company
What is: strategic positioning
One of Porter's 5 Competitive Forces related to new competitors taking away customers from existing organizations
What is: threats of new entrants
an organization with a flat hierarchy, few rules, low work specialization, and authority centralized in a single person
What is: Simple Structure
a vision or projection of the future
What is: a forecast
enhances strategic and day-to-day decision making
What is: AI
A feedback cycle to stay in control and make sure you are headed in the right direction.
What is: The planning/control cycle
A 4-Step process for motivating employees to achieve goals.
What is: Management by Objectives (MBO)
A tool to evaluate strategic business units on the basis of (1) their growth rates and (2) their share of the market
What is: a BCG Matrix
a creation of alternative, equally likely future conditions
What is: contingency planning or scenario analysis
a person whose accomplishments embody the values of the organization
What is: hero
when decision makers increase their commitment to a project, despite negative information about it
What is: Escalation of Commitment Bias
the process by which people learn the values, norms, and required behaviors of an organization
What is: organizational socialization
Outlining an organization's long-term goals for the next 1-5 years.
What is: Strategic Planning
environmental factors that the organization may exploit for competitive advantage
What is: organizational opportunities
In the BCG matrix, units with slow growth but high market share
What is: cash-cows
a graph of decisions and their possible consequences
What is: a decision tree
the extent to which your personality and values match the culture in an organization
One of Porter's 4 competitive strategies to keep costs below competitors and target a wide market
What is: cost-leadership strategy
explicitly stated values and norms preferred by an organization
What is: Espoused Values
Because all work entails human interaction, effort, or involvement, this is the most important core process of strategy execution.
What is: people