Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Test #2

Ch. 5, 9, 10

QuestionAnswer
Sustainable competitive advantage others try to copy and can't
4 requirements to sustainable advantage: 1. valuable resources 2. rare resources 3. imperfectly imitable resources 4. nonsubstitutable resources 1. increase effiency/effectiveness (people) 2. not controlled or possessed by others (tanzanite) 3. costly or difficult to copy (coke formula) 4. no other resource can replace it & get the same result (PB & J)
Competitive inertia reluctance to change successful strategies
SWOT Analysis 1. internal 2. external 1. Strength and Weakness 2. Opportunities and Threats
INTERNAL ENVIRONMENT: Distinctive competence -tangible -company makes, does, and sells
INTERNAL ENVIRONMENT: Core capabilities -intangible -customer service
EXTERNAL ENVIRONMENT: 1. strategic group 2. core firms 3. secondary firms 1. competitors 2. direct competitors (Coke/Pepsi) 3. like Coke/ RC Cola
STRATEGIC ALTERNATIVES: 1. Risk-avoiding 2. Risk-taking 1. aims to protect an existing competitive advantage (patent) 2. aim to extend or create sustainable competitive advantage (research & development)
BCG Matrix: 1. Question Marks 2. Stars 3. Cash Cows 4. Dogs 1. Swiffer 2. Olay 3. Tide 4. Era
GRAND STRATEGIES: growth increase company
stability improve what you already have
retrenchment hold off threats while turning company around
divestiture sold off part of stuff or lay people off
***5 INDUSTRY FORCES:*** 1. Threat of New Entrants 2. Bargaining Power of Suppliers and Buyers 3. Threat of Substitute Products or Services 1. Barrier to enter market ($) 2. Dependants- Opportunistic Behavior 3. How easy is it to have a "generic" option?
differentation provide unique products/services/features (PS3)
cost leadership being most competitive low priced (Walmart)
niche catering to particular segment of the market (Cracker Barrel)
Vertical integration seeking cost savings and effiency (GE) Coal-->electricity-->products
SOCIAL LOAFING: ***additive task*** a type of group task in which the coordinated efforts of several people are added together to form the group's product
social impact theory as group size increases, individual effort decreases
autonomy how **independent** are you to do your work
TEAM NORMS: ***expected roles*** the set of behaviors that a group expects from an individual member
TEAM CONFLICT: 1. Cognitive (C-type) 2. Affective (A-type) 1. members disagree because of different experiences and expertise 2. results in hostility, anger, resentment, distrust, cynicism, apathy
TEAM COMPENSATION: 1. Skill-based pay 2. Gainsharing 3. Nonfinancial rewards 1. payed for learning additional skills 2. companies share financial value with their workers 3. vacations, t-shirts, awards...
Bona fide occupational qualification(BFOQ) you have a legitamate reason to discriminate
Disparate treatment intentional discrimination (on purpose)
Adverse Impact unintentional discrimination
Four-Fifths Rule formula to determine if adverse impact has occured
1. Job Description 2. Job Specifications 1. what you are going to do 2. skill you need (BFOQ shows up here)
internal recruiting within the company
career path path to follow in the company to ge promoted
external recruiting outside the company- advertising, walk-ins, job fairs...
COMPENSATION DECISIONS: 1. piecework 2. commission 3. profit sharing 4. employee stock ownership plans (ESOP) 5. stock options 1. payed for each item produced 2. % of sales 3. salary and % of profit 4. salary and stock 5. salary and option to buy cheap stock
1. functional turnover 2. dysfunctional turnover 1. good- new replacing old 2. bad- losing good employees
Created by: ShinedownSouth
Popular Management sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards