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romantic view of leadership
situations in which the leader is the key force determining the organizations success or lack thereof. TERM 2
external control view of leadership
DEFINITION 2 situations in which external forces, where the leader has limited influence, determine the organizations success. TERM 3
strategic management
DEFINITION 3 the analyses, decisions, and actions organization undertakes in order to create and sustain competitive advantage. TERM 4
key attributes of strategic
management
DEFINITION 4 directs the organization toward overall goals and objectives. Includes multiple stakeholders in decision making. needs to incorporate short term and long term perspectives. recognizes trade offs between efficiency and effectiveness. TERM 5
intended strategy
DEFINITION 5 strategy in which organizational decisions are determined only by analysis
strategic management process
strategy analysis, strategy formulation, and strategy implementation TERM 7
realized strategy
DEFINITION 7 strategy in which organizational decisions are determined by both analysis and unforeseen environmental developments, unanticipated resource constraints and/or changes in managerial prefernces TERM 8
zero sum
DEFINITION 8 the role of management is to look upon the various stakeholders as competing for the organizations resources. The gain of one individual or group is the loss of another individual or group. TERM 9
symbiosis
DEFINITION 9 recognizes that stakeholders are dependent upon each other for their success and well being. TERM 10
share value
DEFINITION 10 this new concept of capitalism redefines the purpose of the corporation
mission statement
a set of organizational goals that include both the purpose of the organization, its scope of operations, and the basis of its competitive advantage. TERM 17
strategic objectives
DEFINITION 17 a set of organizational goals that are used to operationalize the mission statement and that are specific and cover a well defined time frame
