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Midterm

COMM 210 Midterm: COMM210 MIDTERM REVIEW

6 Pages
69 Views
Winter 2017

Department
Commerce
Course Code
COMM 210
Professor
Francois Bastien
Study Guide
Midterm

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THEORIES
Chandler: Organizational Success
CLAIM: Sucessful firms capitalize on economies of scale and scope; they have a
functional management structure and invest in research and development and
grow from related diversification. This allows them to stay ahead of competition.
Economies of scale: Production rises and cost per unit drops (The
bigger, the better).
Economies of scope: same raw material, different products.
First movers: First to arrive with the product competitive advantage
Research & development: New ideas, innovation.
Related diversification: related industries.
Unrelated diversification:
- Poor corporate strategy
-Separation of top and middle managers.
-Smaller business Short-term thinking
Management hierarchy: separation of upper and lower level
management.
Managerial enterprise: Making investments in management, production
and distribution in order to capitalize in economies of scale and scope.
Greiner: Evolution & Revolution as organizations grow
CLAIM: Organizational growth is done in 5 phases and by implementing the right
strategies and managerial structures, they can resolve the crisis and move on.
*Each phase begins with a period of evolution and has its moments of stability
and growth but eventually ends with a revolutionary period.
*Management practices that work well in one phase can bring crisis in another.
5 Key dimensions of organizational development:
1) Age: the life span of a company determines the number of organizational
practices that have been used.
2) Size: the more the number of employees and volume of sales, the more
the management is going to have to change its org. structure.
3) Stages of evolution: prolonged growth
4) Stages of revolution: turbulence and crisis between periods of evolution,
companies must abandon past practices and effect major org. changes to
manage the next stage of ev. growth.
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5) Growth rate of the industry: the speed at which an organization goes
through the stages us related to the market environment in the industry.
Evolutionary periods:
Shortfast-growing industries
Longslow-growing industries
The 5 phases of growth: (Quiz let to learn)
Creativity:
Emphasis on creating a product and market
Frequent, informal communications
Founders give-up managerial responsibilities
Crisis of leadership: as the company grows, new procedures need to be
implemented to keep everything in order and be efficient.
Solution: hire a strong business manager to give direction.
Direction:
After the business manager is installed, comes period od sustained
growth
Job assignments become specialized
More formal communication
Structural hierarchy develops
Crisis of autonomy:
The hierarchy created problem between higher and lower ranked
employees
Lower-ranked employees feel more knowledgeable than their higher
ranked bosses.
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Description
THEORIES Chandler: Organizational Success CLAIM: Sucessful firms capitalize on economies of scale and scope; they have a functional management structure and invest in research and development and grow from related diversification. This allows them to stay ahead of competition.  Economies of scale: Production rises and cost per unit drops (The bigger, the better).  Economies of scope: same raw material, different products.  First movers: First to arrive with the product competitive advantage  Research & development: New ideas, innovation.  Related diversification: related industries.  Unrelated diversification: - Poor corporate strategy -Separation of top and middle managers. -Smaller business Short-term thinking  Management hierarchy: separation of upper and lower level management.  Managerial enterprise: Making investments in management, production and distribution in order to capitalize in economies of scale and scope. Greiner: Evolution & Revolution as organizations grow CLAIM: Organizational growth is done in 5 phases and by implementing the right strategies and managerial structures, they can resolve the crisis and move on. *Each phase begins with a period of evolution and has its moments of stability and growth but eventually ends with a revolutionary period. *Management practices that work well in one phase can bring crisis in another. 5 Key dimensions of organizational development: 1) Age: the life span of a company determines the number of organizational practices that have been used. 2) Size: the more the number of employees and volume of sales, the more the management is going to have to change its org. structure. 3) Stages of evolution: prolonged growth 4) Stages of revolution: turbulence and crisis between periods of evolution, companies must abandon past practices and effect major org. changes to manage the next stage of ev. growth. 5) Growth rate of the industry: the speed at which an organization goes through the stages us related to the market environment in the industry.  Evolutionary periods: Shortfast-growing industries Long slow-growing industries The 5 phases of growth: (Quiz let to learn) Creativity:  Emphasis on creating a product and market  Frequent, informal communications  Founders give-up managerial responsibilities Crisis of leadership: as the company grows, new procedures need to be implemented to keep everything in order and be efficient. Solution: hire a strong business manager to give direction. Direction:  After the business manager is installed, comes period od sustained growth  Job assignments become specialized  More formal communication  Structural hierarchy develops Crisis of autonomy:  The hierarchy created problem between higher and lower ranked employees  Lower-ranked employees feel more knowledgeable than their higher ranked bosses. Delegation:  Greater responsibility is given to lower-ranked managers  Top-level executives manage from periodic reports  Diversification leads to decentralization Crisis of Control:  As the company’s operations expand, top executives feel they are losing control  Attempts to return to centralized managements usually fail Coordination:  Formal system for seamless coordination between various sectors Red tape crisis:  Excessive bureaucracy brings conflict between the field and headquarters.  Innovation stifles. Collaboration:  “A more flexible and behavioral approach to management.”  Teamwork is encouraged  Social skills become more relevant (EQ vs. IQ) Crisis:???? Barney: Strategy, resources & capabilities CLAIM: a firm will have a sustained competitive advantage if its resources and capabilities are valuable, rare, inimitable, and organized in a way that allows exploiting potential opportunities. *A firm wil
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