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four ongoing challenges that characterize the current business landscape
globalization, technological change, the importance of knowledge and ideas, and collaboration across organizatinal boundaries
knowledge management
the set of practices aimed at discovering and harnessing an organization’s intellectual resources- fully using the intellects of the organization’s people
the introduction of goods and services
the management function of systematically making decisions about the goals and activities that an individual, a group, a work unit, or the overall organization will pursue
the management function of assembling and coordinating human, financial, physical, informational, and other resources needed to achieve goals
the management function that involves the manager’s efforts to stimulate high performance by employees
the management function of monitoring performance and making needed changes
Top-level managers
senior executives responsible for the overall management and effectiveness of the organization
Middle-level managers
(tactical managers) managers located in the middle layers of the organizational hierarchy, reporting to top-level executives
Frontline managers
(operational managers) lower-level managers who supervise the operational activities of the organization
managerial roles
interpersonal roles: leader, liaison, figurehead. Informational roles: monitor, disseminator, spokesperson. Decisional roles: entrepreneur, disturbance handler, resource allocator, negotiator
staffing,training, and motivating people
maintaining a network outside contacts who provide information and favors
performing symbolic duties
seeking and receiving information to develop a thorough understanding of the organization and its environments; serving as the nerve center of communication
transmitting information from source to source, sometimes interpreting and intergrating diverse perspectives
speaking on behalf of the organization about plans, policies, actions, and results
searching for new business opportunities and initiating new projects to create change
disturbance handler
taking corrective action during crises or other conflicts
resource allocator
providing funding and other resources to units or people; includes making or approving significant organizational decisions
the process of comparing an organization’s practices and technologies with those of other companies
an organization’s conscious efforts to change the boundaries of its task environment
domain selection
entering a new market or industry with an existing expertise
a firm’s investment in a different product, business, or geographic area
competitive pacification
independent action to improve relations with competitors
public relations
establishing and maintaining favorable images in the minds of those making up the environment
creating supplies of excess resources in case of unpredictable needs
phases of the decision making process
identifying and diagnosing the problem, generating alternative solutions, evaluating alternatives, making the choice, implementing the decision, evaluating the decision
illusion of control
people’s belief that they can influence events even when they have no control over what will happen
framing effects
a decision bias influenced by the way in which a problem or decision alternative is phrased or presented
incremental model
model of organization decision making in which major solutions arise through a series of smaller decisions
coalitional model
model of organization decision making in which groups with differing preferences use power and negotiation to influence decisons
garbage can model
model of organizational decision making depicting achaotic process and seemingly random decisions
specfic formal planning steps
stuational analysis, alternative goals and plans, goal and plan evaluation, goal and plan selection, implementation, monitor and control
specific, measurable, attainable, relevant, time-bound
tactical planning
a set of procedures for translating broad strategic goals and plans into specific goals and plans that are relevant to a distinct portion of the organization, such as a functional area like marketing
operational planning
the process of identifying the specific procedures and processes required at lower level of the organization
strategic vision
the long-term direction and strategic intent of a company
financial analysis
examines financial strengths and weaknesses through financial statements such as a blanace sheet and an income statement and compares trends to historical and industry figures
marketing audit
examines strengths and weaknesses of major marketing activities and identifies markets, key market segments, and the competitive position of the organization within key markets
operations analysis
examines the strengths and weaknesses of the manufacturing. production, or service delivery activities of the organization
other internal resource analysis
examine, as necessary and appropriate, the strengths and weaknesses of other organizational activities, such as research and development, management information systems, engineering, and purchasing
human resources assessment
examines strengths and weaknesses of all levels of management and employees and focuses on key human resources activities, including recruitment, selection, placement, training, labor relationships, compensation, promotion, appraisal, quality of work life, and humar resources planning

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