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MNGT Exam 2
Terms in this set (38)
Mission and vision statements play what three critical roles?
Inform strategy development.
Communicate the purpose of the organization to stakeholders.
Develop the measurable goals and objectives by which to gauge the success of the organization's strategy.
_____________ answer the question of "Who are we?" and "What does our organization value?" while ________ Response area are generally relatively brief, future-oriented statements that tell where the organization is going.
Mission statements, Vision Statements
_____ are those key parties who have some influence over the organization or stake in its future that can include employees, customers, investors, suppliers, and institutions such as governments.
_______ employees are dedicated and passionate about what they do and, when they have choices, will act in a way that furthers their organization's interests.
______ is the workplace environment formulated from the interaction of the employees in the workplace.
Those stakeholders who are often emphasized in mission statements are __________.
customer and employee's
__________ involves influencing others toward the attainment of organizational objectives and goals.
__________ involves ensuring that performance does not deviate from standards (expected results).
A firm's strategy includes?
Captures how vision and mission will be achieved.
A __________ is seen when an organization is very clear about its vision and mission, and has a coherent, well-articulated plan for achieving those.
__________ focuses on what industry or industries the organization should participate in, and considers the concepts of synergy and diversification.
Which of the following answers the question "How should we compete?" within a specific industry?
Why might a firm look to diversify?
Spread out risk and opportunities over a larger set of businesses.
In strategic management, what is the objective of synergy?
To create a positive interaction between two or more related activities
Firms use a product's performance characteristics and its attributes, for which customers are willing to pay, to measure how _______ is created for customers.
Who is generally responsible for setting goals and objectives in an organization?
What leadership approach aims to increase organizational performance by aligning the subordinate objectives throughout the organization with the overall goals set by management?
Management by objectives
The timing of employee performance evaluations should coincide with the needs of the organization and ____ of the employee.
the developmental needs
Goals and objectives provide a form of control since they create a feedback opportunity regarding how well or how poorly the organization is executing its strategy.
A key feature of management by objectives (MBO) is its focus on __________.
A beneficial feature of balanced scorecards is that they __________.
include both leading and lagging indicators of performance
In a performance evaluation, which of the following indicators of performance is easiest to describe and quantify?
Attendance and punctuality
____ refers to how work is coordinated between individuals and teams within an organization.
In boundaryless organizations, _____ refers to when all nonessential functions are outsourced and ______ refers to when two or more companies find an area of collaboration and combine their efforts to create a partnership that is beneficial to both parties.
modular, strategic alliance
What organizational design type actively seeks to acquire knowledge and change behavior as a result of newly acquired knowledge?
__________ is a kind of organization in which most employees take guidance from two different managers: one who provides standardized guidance for all providing the same function, and one who directs all activities supporting a particular product/service or geographic region.
A matrix organization
Organizational change is most often a response to change in __________.
Organizational change can often lead to improved performance if successful, yet many times change efforts might fail. What is the leading cause that change efforts fail?
Kurt Lewin developed a three-stage model of change. Which of the following actions is not included in the first stage, unfreezing?
Enforce compliance through a system of rewards and punishments.
Kurt Lewin developed a three-stage model of change. Which of the following actions is included in the third stage, refreezing?
Publicize success and reward change adoption.
Founder values only become retained within the organizational culture of a firm to the extent that they allow the company _______.
to be succesful
Organizational culture is maintained through the ______ - _______ - _________ process.
attraction, selection, attrition
______ is the process through which new employees learn the attitudes, knowledge, skills, and behaviors required to function effectively within an organization.
Leaders of successful businesses often attribute part of their company's performance to their organization's culture.
Organizational culture most readily impacts all the following except:
Financial institutions want to be viewed as trustworthy, solid, and safe, and they expect their employees to convey that message to their customers. Which of the following would be most effective in portraying this organizational culture?
Expecting employees to dress and behave conservatively.
Organizational culture will act like a self-defending organism where intrusive elements are kept out.
Which of the following is true about how senior managers can change an organization's culture?
Model the new behaviors that are expected of the employees.
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