MGMT/HS 350 Exam 2 Review

An organizational chart is a graph of decisions and their possible consequences.

In the BCG matrix, _____ have high market share and high growth potential.

Tesla sells unique, high-priced cars to a select market segment. What strategy is Tesla using?

___________ is making a choice without the use of conscious thought or logical inference.

You run a hair salon and frequently visit other local salons to watch services offered, costs, and other areas of_____.

Cascading goals flow from strategic goals to divisional, then departmental goals, before flowing to ______ goals.

Creating a unique and valuable position, trade-offs in competing, and creating a “fit” among activities are parts of __.

At MSSU, Roary the Lion represents what level of organizational culture?

What is the second step of the strategic management process?

Cost leadership and differentiation strategies both focus on broad markets.

In a SWOT analysis, what are drawbacks that hinder an organization in executing its strategies called?

A ______ expresses what the company stands for, its core priorities, and the values its employees embody.

In a _______ culture, employees are expected to work hard, react fast, and deliver quality work on time.

Effective vision statements are characterized by future focus and __________.

A ____________ expresses the organization’s purpose, or reason for being.

________ is a process involving all managers in the formulation and implementation of strategies and strategic goals.

Person-job fit reflects the extent to which your personality and values match the organization's culture and climate.

______________ involves setting goals and deciding how to reach them.

__________ is agreeing for the sake of unanimity and thus avoid accurately assessing the decision situation.

Consumers prefer ground beef that is 80% lean as opposed to 20% fat, and example of the ___________ bias.

Step two of the planning/control cycle is to carry out the plan.

Organizational _____________ is concerned with who reports to whom and who specializes in what work.

A values statement describes “what” an organization wants to become, and the actions needed to get there.

The ability of decision makers to be rational is limited by numerous constraints, a phenomenon called satisficing.

___________ is the process of analyzing raw data sets in order to make conclusions about the information they contain.

A _______ structure places diverse occupational specialties into groups by similar products, customers, or regions.

To maximize profitability and competitiveness, firms should avoid alignment across all levels of strategy.

__________ is the ability of a computer system to perform tasks that would normally necessitate human intelligence.

According to the BCG matrix, four types of organizational design are clan, adhocracy, market, and hieararchy.

Sunk-cost bias occurs when people seek information to support their point of view and discount data that does not.

___________ attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company.

A forecast is a projection of the future.

____________ is the process by which people learn the values, norms, and required behaviors of an organization.

Short term goals generally span 24 months or less.

What goals focus on achieving the strategies identified in a company’s strategic plan and typically span 1-5 years?

Which of the following is a type of group problem-solving technique?

A _________ organizational structure has a central core of key functions and outsources other functions to vendors.

One constraint to rational decision making is ______, or extreme and inflated sense of pride, certainty, and confidence.