Man 4720
Terms
undefined, object
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- Romantic Perspective
- inplicit assumptiuon is that the leader is the key force in determining success.
- 6 characteristics of a good objective
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flexible
stretching and motivating
measurable
achievable
agreeable
understandable - What is the I/O model?
- says that firms must identify and acuire skille and resources to achieve profitablity along with segments in the market.
- How do operational effectivnes and strategy differ?
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Operational effectivness is doing similiar activities better than your rivals
Strategy is preforming diffrent activities in a diffrent way (ie southwest, dell, star bucks) - Resource-based model
- says that a company should first develop resources and skills to take advantage of opportunities in their industries.
- external control perspective
- rather than thinking the leader is the most important factor, the focus is on external factors that may affect firm's success
- Variety based positioning
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offering unique set of goods or services
(ie chick-fl-a) - Whis model beleives external enviroment imposes constraints I/O or resource-based
- I/O
- External enviroment
- looks for oppprtunities and threats
- Symbiosis
- recognizes that the stakeholders are dependent on each other for their success.
- Internal enviroment
- streatgths and weaknesses
- Corporate level stratigies
- addresses the issues concerning a firm's portfolio (or group) of businesses.
- What are the 5 prominent stakeholders
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customers
employees
suppliers
community
owners - access based positioning
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serving a set of cutomers that require a unique access
(kinkos) - straddling
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trying to carry two positions at once
(ie Continental airlines) - Why is growth problematic?
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1 firm might not have the capital to expand
2 might lack the technology
3 expanding creates more costs
4 loses its uniqueness and/or original target market - What are the 3 types of positioning
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variety-based
needs-based
access-based - Objectives
- they turn mission statements into performance outcomes
- How do firms achieve strategic effectivness?
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1 consitent long term goal and objectives
2 understanding for the enviroment
3 takes resources into consideration
4 effectively implements production - What to remember when setting objectives?
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what does the industry allow
what does it taker to succeed
what can be accomplished
does it support out mission?