CSUF Mgmt 449 Exam #1 (Chapter 1) – Flashcards
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BUDGET
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statement of a corporations programs in terms of dollars, lists the detailed cost of the programs
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BUSINESS STRATEGY
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emphasizes improvement of competitive position of a corporations products or services in the specific industry or market segment
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CORPORATE STRATEGY
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company's overall direction in terms of its general attitude toward growth and the management of its various businesses and product lines,.
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FUNCTIONAL STRATEGY
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approach used by functional areas to achieve corporate and business unit objectives and strategies by maximizing resource productivity. Concerned with developing a and nurturing a a distinctive competence to provide a company or biz unit with a competitive advantage
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ENVIRONMENTAL SCANNING
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the monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation
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EVALUATION AND CONTROL
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process in which corporate activities and performance results are monitored so that actual performance can be compared to desired performance
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EXTERNAL ENVIRONMENT
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consists of variables (OPPORTUNITIES AND THREATS) that are outside the organization and not typically within the short-run control of top management
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GLOBALIZATION
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the integrated internationalization of markets and corporations.
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HIERARCHY OF STRATEGY
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corp-business-functional
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INNOVATION
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used to describe new products, services, methods and organizational approaches that allow the business to achieve EXTRAORDINARY returns.
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INSTITUTION THEORY
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theory that proposes that orgs can and do adapt to changing conditions by imitating other successful organizations
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INTERNAL ENVIRONMENT
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consists of variables(STRENGTHS AND WEAKNESSES) that are inside the organization and are not usually within the short-run control of top management.
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TRIPLE BOTTOM LINE
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used to describe a business's sustainability. Includes: TRADITIONAL PROFIT/LOSS, PEOPLE ACCOUNT: the social responsibility of the org, PLANET ACCOUNT: environmental responsibility of the org.
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SUSTAINABILITY
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refers to the use of business practices to manage the triple bottle line
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ORGANIZATIONAL LEARNING THEORY
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an organization adjusts defensively to a changing environment and uses knowledge offensively to improve the fit between itself and its environment
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LEARNING ORGANIZATION
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an org skilled at creating, acquiring, and transferring knowledge, and at modifying its behavior to reflect a new knowledge and insight
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STRATEGIC FACTORS
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external and internal elements that will assist in the analysis in deciding the strategic decisions of the corporation
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SWOT ANALYSIS
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STRENGTHS, WEAKNESSES, OPPORTUNITIES, THREATS that are strategic factors for the company
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PERFORMANCE
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is the end result of activities
