Term
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Definition
| requires on to anticipate and envision, maintain flexibility an em power others to create strategic change. Multifunctional work that involves working through others. |
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Term
| What do effective Strategic Leaders do? |
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Definition
| Manage firms operations effectively. Sustain high performance over time. Make better decisions than their competitors. Candid, Courageous, and pragmatic. Solicit Feedback from peers. |
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Term
| Factors that effect the amount of decision making descretion |
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Definition
| External Environment. Characteristics of the company. Characteristics of the manager. High Growth managers have more discretion. |
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Term
| External Environment Factors |
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Definition
| Industry Structure. Rate of Market Growth. Number and types of competitors. Political/legal constraints. Degree to which products can be differentiated. |
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Term
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Definition
| Size, Age, Culture, Availability of Resources, patterns of interaction among employees |
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Term
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Definition
| Tolerance for ambiguity, Commitment to the firm and its desired strategic outcomes. Interpersonal skills. Aspiration level. Degree of Self Confidence. |
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Term
| Heterogeneous Mgt. Team characteristics. |
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Definition
| vaired expertise and knowledge. Can Draw on multiple perspectives. Will evaluate multiple strategies. |
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Term
| Higher or Lower performance when board of directors are actively involved in shaping strategic dircection |
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Definition
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Term
| Internal Mgt labor market |
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Definition
| advancement opportunities related to managerial positions within a firm |
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Term
| External Mgt. Labor market |
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Definition
| career opportunities for managers in organizations other than the one for which they currently work. |
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Term
| Advantages from picking mgt from within organization |
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Definition
| experiece with firm and industry. familiarity with company products, markets, technology, and operating procdeures. Lower turnover among existing personal. |
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Term
| Advantages from picking mgt from outside of the organziation |
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Definition
| long tenured insiders may be "stale in the saddle." outsiders may bring fresh perspectives. |
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Term
| Long Term Vision has two parts...what are they? |
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Definition
| Core ideology and Envisioned future. |
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Term
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Definition
| Resources and capabilities of a firm that serve as a source of competitive advantage over its rivals. |
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Term
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Definition
| the knowledge and skills of the firms entire workforce are a capital resource that requires investment in training and development. |
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Term
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Definition
| Relationships inside and outside the firm that help it accomplish tasks and create value for customers and shareholders. |
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Term
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Definition
| the complex set of ideologies, symbols, and core values shared through the firm that influences the way business is conducted. |
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Term
| How do controls help strategic leaders? |
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Definition
| build credibility, demonstrate the value of strategies to the firms stakeholders and promote and support strategic change. |
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