What are the first 3 steps in the rational decision making process?
Define the problem
Identify decision criteria
Weight the criteria
100
What are the three steps of the strategy making process?
Assess need for strategic change
Conduct situational analysis
Choose strategic alternatives
100
Describe innovation streams.
A pattern of innovation over time that can create sustainable competitive advantage. It begins with technological discontinuity followed by discontinuous change then technological substitution and design competition
100
One advantage of licensing is that the licensee won't become a competitor, true or false?
False
200
What does S.M.A.R.T stand for?
Specific
Measurable
Attainable
Realistic
Timely
200
What does SWOT analysis stand for?
Strengths
Weakness
Opportunities
Threats
200
What are 2 common errors managers make when leading change?
Not establishing a great enough sense of urgency
Not creating a powerful enough guiding collation
Lacking vision
Under communication of the vision
Not removing obstacles to the new vision
Not systematically planning for & creating short term wins
Declaring victory too soon
Not anchoring changes in the corporation culture
200
What are the two types of uncertainty that businesses must keep in mind to minimize political risk?
Political uncertainty and policy uncertainty
300
Name two things that increase determination to achieve a goal.
Setting goals participatively
Making goals reasonable
Making goals public
Obtaining top management support
300
What are the two major approaches to corporate-level strategies that companies use?
Portfolio strategy
Grand strategies
300
When an employee resists change to unfreezing what should a manager do?
Share reasons, Empathize, and Communicate
300
Which country has the highest percentage of direct foreign investment in the U.S.?
United Kingdom
400
What are the two types of structured conflict?
C-type conflict
A-type conflict
400
BCG (Boston Consulting Group) categorizes businesses into what four groups?
Star
Question mark
Cash cow
Dogs
400
What are 4 components to a creative work environment?
Organizational encouragement
Supervisory encouragement
Work group encouragement
Freedom
Lack of organizational impediments
Challenging work
400
In what country is the WTO (World Trade Organization) located?
Switzerland
500
What is an advantage of electronic brainstorming?
Overcomes production blocking
Overcomes evaluation apprehension
500
What kind of portfolio strategy is considered to do the best job of helping managers decide which companies to buy or sell?
Related diversification
500
What are the 5 ways to manage resistance to change?
Education and communication, participation, negations, top management support, and coercion
500
Name 3 of the 5 main cultural differences that businesses need to be aware of.
Power distance
Indicidualism
Masculinity/Femininity
Uncertainty avoidance
Short-term/long-term orientation
500
What are the four concepts of planning in a business?
Planning and decision making
Organizational strategy
Innovation and change
Global Management