WGU C483 - Principles of Management Ch 9
strategic alliance definition:
a formal relationship created with the purpose of joint pursuit of mutual goals
In a strategic alliance, individual organizations share administrative authority, form social links, and accept joint ownership.
learning...
WGU C483 - Principles of Management Ch 9
strategic alliance definition:
a formal relationship created with the purpose of joint pursuit of mutual goals
In a strategic alliance, individual organizations share administrative authority, form social links, and
accept joint ownership.
learning organization definition:
an organization skilled at creating, acquiring, and transferring knowledge and at modifying its
behavior to reflect new knowledge and insights
Google, Toyota, and IDEO are good examples of learning organizations
high-involvement organization definition:
top management ensures that there is a consensus about the direction in which the business is
heading.
The leader seeks input from his or her top management team and from lower levels of the company.
Task forces, study groups, and other techniques are used to foster participation in decisions that
affect the entire organization. Also fundamental to the high-involvement organization is continual
feedback to participants regarding how they are doing compared with the competition and how
effectively they are meeting the strategic agenda
Large organizations are typically...
less organic and more bureaucratic.
Large size often leads to scale economies
Thus with size comes greater complexity, and complexity brings a need for increased control. In
response, organizations adopt bureaucratic strategies of control. The conventional wisdom is that
bureaucratization increases efficiency but decreases a company's ability to innovate.
economies of scope definition:
Economies in which materials and processes employed in one product can be used to make other
related products
downsizing definition:
the planned elimination of positions or jobs
Common approaches include eliminating functions, hierarchical levels, or even whole units.
Customer relationship management (CRM) definition:
A multifaceted process focusing on creating two-way exchanges with customers to foster intimate
knowledge of their needs, wants, and buying patterns
value chain definition:
the sequence of activities that flow from raw materials to the delivery of a good or service, with
additional value created at each step.
or each step in the chain adds value to the product or service:
, When the total value created—that is, what customers are willing to pay—exceeds the cost of
providing the good or service, the result is the...
organization's profit margin
Total quality management (TQM) definition:
a way of managing in which everyone is committed to continuous improvement of his or her part of
the operation.
it is a comprehensive approach to improving product quality and thereby customer satisfaction.
It is characterized by a strong orientation toward customers (external and internal) and has become
an umbrella theme for -organizing work.
It reorients managers toward involving people across departments in improving all aspects of the
business.
Deming's "14 points" of quality:
1. Create constancy of purpose—strive for long-term improvement rather than short-term profit.
2. Adopt the new philosophy—don't tolerate delays and mistakes.
3. Cease dependence on mass inspection—build quality into the process on the front end.
4. End the practice of awarding business on price tag alone—build long-term relationships.
5. Improve constantly and forever the system of production and service—at each stage.
6. Institute training and retraining—continually update methods and thinking.
7. Institute leadership—provide the resources needed for effectiveness.
8. Drive out fear—people must believe it is safe to report problems or ask for help.
9. Break down barriers among departments—promote teamwork.
10. Eliminate slogans, exhortations, and arbitrary targets—supply methods, not buzzwords.
11. Eliminate numerical quotas—they are contrary to the idea of continuous improvement.
12. Remove barriers to pride in workmanship—allow autonomy and spontaneity.
13. Institute a vigorous program of education and retraining—people are assets, not commodities.
14. Take action to accomplish the transformation—provide a structure that enables quality.
six sigma quality definition:
A method of systematically analyzing work processes to identify and eliminate virtually all causes of
defects, standardizing the processes to reach the lowest practicable level of any cause of customer
dissatisfaction
ISO 9001 definition:
A series of quality standards developed by a committee working under the International Organization
for Standardization to improve total quality in all businesses for the benefit of producers and
consumers
8 standards
Re-engineering definition:
The principal idea is to revolutionize key organizational systems and processes to answer this
question: "If you were the customer, how would you like us to operate?"
small batch technologies definition:
When goods or services are provided in very low volume
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LectAziim. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.19. You're not tied to anything after your purchase.
