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Chapter 10
Chapter 10 Selections
| Question | Answer |
|---|---|
| staffing follows strategy | staffing requirements are likely to follow a change in strategy. For example, promotions should be based not only on current job performance but also on whether a person has the skills and abilities to do what is needed to implement the new strategy. |
| matching manager to strategy | Executive characteristics influence strategic outcomes for a corporation.16 It is possible that a current CEO may not be appropriate to implement a new strategy. Research indicates that there may be a career life cycle for top executives. |
| executive type | Executives with a particular mix of skills and experiences may be classified as an executive type and paired with a specific corporate strategy. |
| dynamic industry expert | a corporation following a concentration strategy emphasizing vertical or horizontal growth would probably want an aggressive new chief executive with a great deal of experience in that particular industry— a dynamic industry expert. |
| analytical portfolio manager | A diversification strategy, in contrast, might call for someone with an analytical mind who is highly knowledgeable in other industries and can manage diverse product lines—an analytical portfolio manager. |
| cautious profit planner | choosing to follow a stability strategy would probably want as its CEO a person with a conservative style, a production or engineering background, and experience with controlling budgets, capital expenditures, inventories, and standardization procedures. |
| turnaround specialist | Weak companies in a relatively attractive industry tend to turn to a type of challenge-oriented executive known as a turnaround specialist to save the company. |
| professional liquidator | If a company cannot be saved, a professional liquidator might be called on by a bankruptcy court to close the firm and liquidate its assets. |
| executive succession | the process of replacing a key top manager. |
| performance appraisal system | identify good performers with promotion potential. |
| downsizing | (sometimes called “rightsizing” or “resizing”) refers to the planned elimination of positions or jobs. This program is often used to implement retrenchment strategies. |
| Successful downsizing factors | Eliminate unnecessary work instead of making across-the-board cuts, Contract out work that others can do cheaper, Invest in the remaining employees |
| international issues in staffing | Because of cultural differences, managerial style and human resource practices must be tailored to fit the particular situations in other countries |
| MNCs | putting more emphasis on intercultural training for managers |
| Intercultural training for managers being sent to foreign country | This type of training is one of the commonly cited reasons for the lower expatriate failure rates—6% or less—for European and Japanese MNCs, which have emphasized cross-cultural experiences, compared with a 35% failure rate for U.S.-based MNCs |
| strategy-culture compatibility | corporate culture should support the strategy. Unless strategy is in complete agreement with the culture, any significant change in strategy should be followed by a modification of the organization’s culture. |
| 1 Is the proposed strategy compatible with the company’s current culture? | If yes, full steam ahead. Tie organizational changes into the company’s culture by identifying how the new strategy will achieve the mission better than the current strategy does. |
| 2 culture easily modified to make it more compatible with the new strategy? | If yes, forward by introducing a set of culture-changing activities such as structural mod, training and development activities, new managers more compatible with the new strategy. |
| 3 Is management willing and able to make major organizational changes and accept probable delays and a likely increase in costs? | If yes, manage around the culture by establishing a new structural unit to implement the new strategy. |
| 4 Is management still committed to implementing the strategy? | If yes, find a jointventure partner or contract with another company to carry out the strategy. If not, formulate a different strategy. |
| Methods of Managing the Culture of Acquired Firm | Integration, Assimilation, Separation, Deculturation |
| Integration | Equal merger of both cultures into a new corporate culture |
| Assimilation | Acquiring firm’s culture kept intact, but subservient to that of acquiring firm’s corporate culture |
| Separation | Conflicting cultures kept intact, but kept separate in different units |
| Deculturation | Forced replacement of conflicting acquired firm’s culture with that of the acquiring firm’s culture |
| Management by Objectives (MBOs) | technique that encourages participative decision making through shared goal setting at all organizational levels and performance assessment based on the achievement of stated objectives |
| Total Quality Management (TQM) | operational philosophy committed to customer satisfaction and continuous improvement |
| TQM Essentials | customer satisfaction, internal/external customers, continuous improvement, trust and teamwork |
| Hofstede 5 dimensions | Power distance, uncertainty avoidance, individual-collectivism, masculinity-feminine, long-term orientation |
| Power distance | extent to which a society accepts an unequal distribution of power in organizations. |
| uncertainty avoidance | extent to which a society feels threatened by uncertain and ambiguous situations. |
| individual-collectivism, | extent to which a society values individual freedom and independence of action compared with a tight social framework and loyalty to the group. |
| masculinity-feminine | extent to which society is oriented toward money and things (which Hofstede labels masculine) or toward people (which Hofstede labels feminine). |
| long-term orientation | extent to which society is oriented toward the longversus the short-term. |
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