Term
| What is to maximize the returns that shareholders receive from holding shares in the company? |
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Definition
| The major goal of companies. |
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Term
| What is pursuing strategies that result in high sustained profitability and profit growth? |
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Definition
| How managers maximize shareholder value. |
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Term
| What can be measured by the return that it makes on the capital invested in the enterprise? |
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Definition
| Profitability of a company. |
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Term
| What can be measured by the growth in earnings per share? |
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Definition
| Profit growth of a company. |
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Term
| What are determined by strategies managers adopt? |
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Definition
| Profitability and Profit Growth. |
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Term
| When does a company have competitive advantage over its rivals? |
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Definition
| When it is more profitable and has greater profit growth than the average for all firms in the industry. |
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Term
| When does a company have sustained competitive advantage? |
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Definition
| When it is able to maintain above-average performance over a number of years. |
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Term
| Who are responsible for the overall performance of an organization, or one of its major self-contained divisions? |
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Definition
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Term
| What is a General Manager's overriding strategic concern? |
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Definition
| The health of the total organization under their direction. |
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Term
| Who are responsible for a particular business function or operation? |
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Definition
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Term
| Functional Managers may lack general management responsibilities, but they make up for it in what? |
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Definition
| Important strategic roles. |
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Term
| What stress that organization strategy is the outcome of a rational planning process? |
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Definition
| Formal Strategic Planning |
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Term
What are the following?:
1. Defining the mission, vision and major goals of the organization.
2. Analyzing the external and internal environments of the organization.
3. Choosing a business model and strategies that align an organization's strengths and weaknesses with external environmental opportunities and threats.
4. Adopting organizational structures and control systems to implement the organization's chosen strategies. |
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Definition
| Major components of the strategic management process. |
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Term
| What can emerge from deep within an organization in the absence of formal plans as lower-level managers respond to unpredicted situations? |
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Definition
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Term
| If cognitive biases are allowed to intrude into the decision-making process, what might happen? |
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Definition
| In spite of systematic planning, companies may adopt poor strategies. |
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Term
What are the following?:
1. Devil's Advocacy
2. Dialectic Inquiry
3. Outside view |
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Definition
| Techniques for enhancing the effectiveness of strategic decision making. |
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Term
What are the following?:
1. Vision
2. Eloquence and Consistency
3. Ability to craft a business model
4. Commitment
5. Being well informed
6. Willingness to delegate and empower
7. Political Astuteness
8. Emotional Intelligence |
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Definition
| Key attributes possessed by good leaders of the strategy-making process. |
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