MGMT 449 Study Guide - Midterm Guide: Human Capital, Reserve Requirement, Problem Solving
Document Summary
Situations in which the leader is the key force determining the organization"s success. External control view of leadership situations in which external forces where the leader has limited influence determine the organization"s success. The ideas, decisions, and actions that enable a firm to succeed (haus of gaga & ufc) Management: directs the organization toward overall goals and objectives, includes multiple stakeholders in decision making, needs to incorporate short-term and long-term perspectives, recognize trade-offs between efficiency and effectiveness. Intended strategy: strategy in which organizational decisions are determined only by analysis. Realized strategy: strategy in which organizational decisions are determined by both analysis and unforeseen environmental developments, unanticipated resource constraints, and/or changes in managerial preference. Strategy analysis: study of firms" external and internal environments, and their fit with organizational vision and goals. Strategy formulation: decisions made by firms regarding investments, commitments, and other aspects of operations that create and sustain competitive advantage.
