MGT 300: Chapter 2 & 3 - Christopher Neck ASU with Complete Solutions

MGT 300: Chapter 2 & 3 - Christopher Neck ASU with Complete Solutions Organizational Strategy the process of creating, evaluating, and implementing decisions and objectives to achieve long-term competitive success Tactical Planning The short term actions and plans to implement the strategy Operational Planning The process of aligning the strategic plan to the day-to-day tasks required in the running of the organization. Strategic Planning The process through which a focus on the desired future sets out defined goals and objectives to translate the vision into reality Divisional Strategy A plan that focuses on how the different departments of the organization comply with the company's vision Functional Strategy A set of rules determining how each department will implement the strategic plan First Mover An organization that wins competitive advantage by being the first to establish itself in a particular market Defender Strategy This means by which organizations focus on stability and efficiently of their internal operations to protect their market from new competitors Analyzer Strategy This means by which organizations try to maintain current products and services with a limited amount of innovation Reactor Strategy A means through which organizations respond to environmental threats and opportunities rather than following a defined plan Prospector Strategy A means through which organizations focus on innovation, creativity, and flexibility and take high risks to accelerate growth and gain competitive advantage Learning Organization An organization that facilitates the acquisition, distribution, and retention of knowledge to enable it to react to change Mimicry The process of learning from the successful practices of others Vicarious Learning A process of learning by watching the actions or behaviors of another person Scanning The search for solutions from outside consultants, competitors, and other successful firms Grafting A process of hiring experts to bring their knowledge to a firm Globalization The integration of economy, trade, and finance on an international scale individualist, collectivist The degree to which employees believe they have the right to live their lives as they see fit, choose their own values, and act on their own judgment power distance the extent to which people in different societies accept the way power is distributed uncertainty avoidance the degree to which people are able to deal with the unexpected and how they cope with uncertainty in unstructured