Chapter 9
A(n) ___________ describes how a business will compete in its primary market.
competitive strategy
Top level managers are responsible for ___________ strategies.
corporate
People who engage in ________ take advantage of opportunities to create new products or services, or change existing ones.
entrepreneurship
Organizational ________ is the formal arrangement of jobs within an organization.
Structure
The ________________ determines the number of levels and managers in an organization.
Span of control
In an organization, the single independent businesses which formulate their own competitive strategies are known as _________.
strategic business units (SBUs)
Lower-level managers are responsible for _________ strategies.
functional
________ is a process of changing, experimenting, transforming, and revolutionizing.
Innovating
A(n) ____________ organization is highly specialized and rigidly departmentalized.
Mechanistic
A(n) ______________ organization is highly formalized and centralized.
Mechanistic
A company that competes by offering unique products that are widely valued by customers is following a ________ strategy.
differentiation
The major value-creating capabilities of the organization are known as its ___________.
core competencies
One of the most powerful predictors of entrepreneurial intent is that most future entrepreneurs possess a ________ personality.
proactive
A(n) ___________ organization is highly adaptive, loose, and flexible.
Organic
_________ is the production of items in units or small batches.
Unit production
The ___________ strategy involves a cost advantage or a differentiation advantage in a narrow segment.
focus
An organization's financial, physical, human, and intangible assets are known as its _________.
resources
_________________ is exiting a venture when an entrepreneur hopes to capitalize financially on the investment in the venture.
Harvesting
_________ is a type of technology that centers on large-batch production and requires moderate levels of complexity and sophistication.
Mass production
___________ are temporary, freelance, or contract workers whose employment is contingent on demand for their services.
Contingent workers
A firm that is "________________" cannot develop a cost or differentiation advantage.
stuck in the middle
The final step in the strategic management process allows an organization to understand the _______________ of the strategies used.
effectiveness
You are _________________ if you work for profit or fees in your own business, profession, trade, or farm.
Large organizations have a more ____________ structure.
Mechanistic
A(n) ____________ organization is one that consists of a small core of full-time employees and outside specialists temporarily hired as needed to work on projects.
Virtual or “Network” or “Modular”