Management: A Focus on Leaders Chapter 5
The cognitive, creative, and behavioral process of developing a sequence of activities intended to achieve a goal or move toward an imagined future state.
The process of determining the activities and steps from an existing state to a clearly defined end state.
The process of identifying a domain (general area of activity) and direction (preferred values and activities) rather than specific goals.
Directing one’s full attention to the task at hand
A dynamic, systematic process in which people envision all of the “what if” scenarios for given situations and plan for several likely possibilities.
A statement that describes what an organization is, what i does, and what it stands for.
Anything that positively distinguishes one organization from others.
A description of what an organization wants to become-its future identity-which can be realized through the successful accomplishment of its mission.
A articulation of a company’s vision.
A corporate strategy that involves expansion of operations and/or an increase in market share.
A corporate strategy that involves joining with other businesses by buying, merging with, or talking over other companies.
A formal arrangement between two or more entities to engage in activities together to share risk.
A corporate strategy that is intended to maintain a company’s current position.
A corporate strategy that is adopted when a company needs to regroup and defend itself while turning the business around.
A corporate strategy in which a company sells off or folds a particular division, business, brand, product, or service line.
A business strategy of providing a product or service that is perceived as unique by customers.
An activity that an organization does very well, that is readily identified by customers, and that sets the company part from its competitors.
A business strategy of providing the lowest prices in the industry for a particular product, product line, or service.
A business strategy that caters to a narrow segment of the market.
A business strategy of acquiring or developing businesses along the supply chain.
All of the resources, products, services, and operations that contribute to producing and selling goods or services.
Departmental strategies that are developed to help an organization achieve its goals.
The process of examining an organization’s internal and external environments and determining major goals that will help the company realize its mission and move towards its vision.
The process of assessing social and natural conditions that have the potential to affect an organization.
A collective group of companies that provide the same or similar products or services.
Any constituent potentially impacted by an organization’s actions, either inside or outside the organization.
An audit of all stakeholders and an analysis of how each stakeholder will be affected by an organization’s decisions, and/or how the stakeholder can affect the organization.
A technique that examines strengths, weaknesses, opportunities, and threats that may affect achievement of strategic mission and vision.
A company that has two or more distinct divisions that produce different products or services.
An analysis tool used to illustrate how a business unit, product, service, brand or product portfolio is performing in terms of market share and market growth.
The percentage of the market that a product, service or business unit has captured.
Market growth rate
A measure of growth in the market for given products or services.
The process of attracting qualified candidates for jobs.
An internal system that maintains information about people within an organization, including skills, training needs, career plans, and other information about employees.
The dismissal of an employee for breaking a company policy, failing to perform, or failing to adjust to company values, norms or culture.