Essentials Of Contemporary Management 5th Ed (chapter 7)

strategy – cluster of decisions about what goals to pursue, what actions to take and how to use resources to achieve those goals
Conceptual Skill – The cognitive ability to see the organisation as a whole and the relationship among its parts

(Microsoft owner Bill Gates displays this through coordinating different departments so that each one contributes to the firm's success and steers the firm in the right direction)

What is the disadvantage of franchising – understanding local culture
organizational culture – the shared set of beliefs, expectations, values, norms, and work routines that influence how individuals, groups, and teams interact with one another and cooperate to achieve organizational goals
leverage (debt) ratios – measure the degree to which a firm relies on borrowed funds in its operations
What requires the seller of a house to inform the buyer of any defects with the property – Full disclosure rule
C-Suite – A widely-used slang term used to collectively refer to a corporation's most important senior executives.
considered the most important and influential group of individuals at a company.
Employment application – A record of statements made at the time the applicant first seeks employment.
The corporate office of Cooper Industries adds value to its acquired businesses by performing such activities as auditing their manufacturing operations, improving their accounting activities, and centralizing union negotiations. This is an example of
Organizational Culture – The shared set of beliefs, expectations, values, norms, and work routines that influences how members of an organization interact with one another and work together to achieve organizational goals
Direct Investment Strategies – Less Risky –> More Risky:
Joint Venture(least risky): Co-ownership arrangement in which the foreign and local business jointly operate the new business. (fails because of sharing)
-operates in a foreign country through co-ownership with local partners
-pool resources, share risks, and jointly operate the new business

Global Strategic Alliance(supply chain): Cooperative partnership to achieve task that would be difficult for partners alone. (The supplier, Motor supplier)

Foreign Subsidiary(most risky)(wholly owned): Operation completely owned and controlled by a foreign firm. (Country like Cuba could take it over)

Greenfield Venture: Subsidiary established after firm has experience in joint ventures.
-establishes a foreign subsidiary by building an entirely new operation in a foreign country

Brand identity – How company's product is perceived by the consumers.
The capital expenditures – budget includes all planned major asset investments
The cоrpоrаte оffice of Cooper Industries аdds vаlue to its acquired businesses by performing such activities as auditing their manufacturing operations, improving their accounting activities, and centralizing union negotiations. This is an example of
forensic accounting – use of acct. for legal purposes
Fast food chain – Classical- needs leadership
Operational plans – plans developed at the organization's lower levers that specify action steps toward achieving operational goals and that support tactical planning activities.

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