IMS 3310 Final Exam Study Guide 2023 with complete
solution
bottom-up planning
planning process that begins at the lowest level in the organization and continues
upward
budget
an itemized projection of revenues and expenses for a future time period
competitive advantage
the ability of a company to achieve and maintain a unique and valuable competitive
position both within a nation and globally, generating higher rates of profit than its
competitors
competitive strategies
action plans to enable organizations to reach their objectives
contingency plans
plans for the best or worst case scenarios or for citical events that could have a severe
impact on the firm
explicit knowledge
knowledge that is easy to communicate to others via words, pictures, formulas, or other
means
international strategy
a plan that guides the way firms make choices about developing and deploying scarce
resources to achieve their international objectives
iterative planning
repetition of the bottom-up or top-down planning process until all differences have been
reconciled
knowledge management
the practices that organizations and their managers use for identifying, creating,
acquiring, developing, dispersing, and exploiting competitively valuable knowledge
mission statement
a broad statement that defines the organization's purpose and scope
policies
broad guidelines issued by upper management to assist lower-level managers in
handling recurring issues or problems
procedures
guides that specify ways of carrying out a particular task or activity
sales forecast
a prediction of future sales performance
scenarios
multiple, plausible stories about the future
strategic planning
the process by which an organization determines where it is going in the future, how it
will get there, and how it will assess whether and to what extent it has achieved its goals
tacit knowledge
, knowledge that an individual has but that is difficult to express clearly in words, pictures,
or formulas and is therefore difficult to transmit to others
top-down planning
planning process that begins at the highest level in the organization and continues
downward
value chain
a set of interlinked activities that adds value to the final product or service
value chain analysis
an assessment conducted on the chain of interlinked activities of an organization or set
of interconnected organizations, intended to determine where and to what extent value
is added to the final product or service
values statement
a clear, concise description of the fundamental values, beliefs, and priorities expected of
the organization's members, reflecting how they are to behave with each other and with
the company's customers, suppliers, and other members of the global community
vision statement
a description of the company's desired future position if it can acquire the necessary
competencies and successfully implement its strategy
affiliates
companies controlled by other companies, but less-than majority owners may exercise
control by a variety of means, both those involving stock ownership and those involving
non-ownership mechanisms
horizontal corporation
a form of organization characterized by lateral decision processes, horizontal networks,
and a strong corporate-wide business philosophy
hybrid organization
a structure organized by more than one dimension at the top level
international division
a division in the organization that is at the same level as the domestic division and is
responsible for all non-home country activities
matrix organization
an organizational structure composed of one or more superimposed organizational
structures in an attempt to mesh product, regional, functional, and other expertise
matrix overlay
an organization in which top-level divisions are required to heed input from a staff
composed of experts of another organizational dimension in an attempt to avoid the
double reporting difficulty of a matrix organization but still mesh two or more dimensions
organizational design
a process that determines how a company should be organized to ensure its worldwide
business activities are integrated in an efficient and effective manner
organizational structure
the way an organization formally arranges its domestic and international units and
activities, and the relationship among these components
reengineering
redesigning organizational structure, hierarchy, business systems, and processes in
order to improve organizational efficiency
solution
bottom-up planning
planning process that begins at the lowest level in the organization and continues
upward
budget
an itemized projection of revenues and expenses for a future time period
competitive advantage
the ability of a company to achieve and maintain a unique and valuable competitive
position both within a nation and globally, generating higher rates of profit than its
competitors
competitive strategies
action plans to enable organizations to reach their objectives
contingency plans
plans for the best or worst case scenarios or for citical events that could have a severe
impact on the firm
explicit knowledge
knowledge that is easy to communicate to others via words, pictures, formulas, or other
means
international strategy
a plan that guides the way firms make choices about developing and deploying scarce
resources to achieve their international objectives
iterative planning
repetition of the bottom-up or top-down planning process until all differences have been
reconciled
knowledge management
the practices that organizations and their managers use for identifying, creating,
acquiring, developing, dispersing, and exploiting competitively valuable knowledge
mission statement
a broad statement that defines the organization's purpose and scope
policies
broad guidelines issued by upper management to assist lower-level managers in
handling recurring issues or problems
procedures
guides that specify ways of carrying out a particular task or activity
sales forecast
a prediction of future sales performance
scenarios
multiple, plausible stories about the future
strategic planning
the process by which an organization determines where it is going in the future, how it
will get there, and how it will assess whether and to what extent it has achieved its goals
tacit knowledge
, knowledge that an individual has but that is difficult to express clearly in words, pictures,
or formulas and is therefore difficult to transmit to others
top-down planning
planning process that begins at the highest level in the organization and continues
downward
value chain
a set of interlinked activities that adds value to the final product or service
value chain analysis
an assessment conducted on the chain of interlinked activities of an organization or set
of interconnected organizations, intended to determine where and to what extent value
is added to the final product or service
values statement
a clear, concise description of the fundamental values, beliefs, and priorities expected of
the organization's members, reflecting how they are to behave with each other and with
the company's customers, suppliers, and other members of the global community
vision statement
a description of the company's desired future position if it can acquire the necessary
competencies and successfully implement its strategy
affiliates
companies controlled by other companies, but less-than majority owners may exercise
control by a variety of means, both those involving stock ownership and those involving
non-ownership mechanisms
horizontal corporation
a form of organization characterized by lateral decision processes, horizontal networks,
and a strong corporate-wide business philosophy
hybrid organization
a structure organized by more than one dimension at the top level
international division
a division in the organization that is at the same level as the domestic division and is
responsible for all non-home country activities
matrix organization
an organizational structure composed of one or more superimposed organizational
structures in an attempt to mesh product, regional, functional, and other expertise
matrix overlay
an organization in which top-level divisions are required to heed input from a staff
composed of experts of another organizational dimension in an attempt to avoid the
double reporting difficulty of a matrix organization but still mesh two or more dimensions
organizational design
a process that determines how a company should be organized to ensure its worldwide
business activities are integrated in an efficient and effective manner
organizational structure
the way an organization formally arranges its domestic and international units and
activities, and the relationship among these components
reengineering
redesigning organizational structure, hierarchy, business systems, and processes in
order to improve organizational efficiency
