MGMT20001 Lecture Notes - Lecture 11: Kodak, Bounded Rationality, Organizational Behavior
27 Jul 2018
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Document Summary
Power is a reciprocal relationship between an agent and a target. There are different types of power (e. g. ) legitimate, referent, rewards, coercive, expert. Power is embedded structurally into organisations politics is an organisational reality. Employees should be aware power can be coercive and hidden. Determination of basic long-term goals and objectives of an enterprise. Allocation of resources necessary for carrying out these goals. Strategy is a series of consistent decisions (below) to achieve and sustain superior performance. Identify the biases most likely to affect critical decisions. Select practices and tools to counter most relevant biases. Decisions are result of intuition, opportunism, reflection (e. g. ) bounded rationality. The way a corporation seeks to create value through the configuration and coordination of its multi-market activities. Corporate strategy decisions made to coordinate these businesses. Once the industry is chosen, the logic regarding how to compete in that industry.
