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19 Cards in this Set
- Front
- Back
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Strategic Leadership |
The ability to anticipate, envision, maintain flexibility, and empower others to create strategic change as necessary. |
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Strategic Change |
Change brought about as a result of selecting and implementing a firm's strategies. |
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Top Management team |
Composed of the individuals who are responsible for making certain the firm uses the strategic management process, especially for the purpose of selecting and implementing strategies. |
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Heterogeneous Top Management team |
Is composed of individuals with different functional backgrounds, experience, and education. |
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Internal Managerial Labor Market |
Consists of a firm's opportunities for managerial positions and the qualified employees within that firm. |
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External Managerial Labor Market |
The collection of managerial career opportunities and the qualified people who are external to the organization in which the opportunities exist. |
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Determining Strategic Direction |
Involves specifying the vision and the strategy or strategies to achieve this vision over time. |
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Human Capital |
Refers to the knowledge and skills of a firm's entire workforce. |
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Social Capital |
Involves relationships inside and outside the firm that help in efforts to accomplish tasks and create value for stake holders. |
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Balanced Scorecard |
Tool firms use to determine if they are achieving an appropriate balance when using strategic and financial controls as a means of positively influencing performance. |
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Parts of Managerial Discretion |
1. Chracteristics of the Organization 2. External Environment 3. Characteristics of the Manager |
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Characteristics of the Manager |
1. Tolerance for ambiguity 2. Commitment to the firm and its desired strategic outcomes 3. interpersonal skills 4. aspiration level 5. degree of self confidence |
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Characteristics of the Organizations
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1. size 2. age 3. culture 4. availability of resources 5. patterns of interaction among employees |
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External Environment |
1. Industry Structure 2. rate of market growth 3. number/type of competitors 4. nature and degree of political/legal constraints 5. degree to which products can be differentiated |
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Stable Strategy |
Internal CEO succession AND homogeneous top management team |
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Stable strategy with innovation |
Internal CEO succession AND heterogeneous top management team |
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Ambiguous: possible change in top management team and strategy |
External CEO succession AND heterogeneous top management team |
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Strategic Change |
External CEO succession AND homogeneous top management team |
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Perspectives of a Balanced Scorecard |
1. Financial 2. Customer 3. Internal Business Processes 3. Learning & Growth |
