BUS 800 Study Guide - Final Guide: Vertical Integration, Human Resource Management System, Organisational Routines

• School: Ryerson University
• Department: Business
• Course: BUS 800
• Professor: Phil Walsh

Document Summary

Corporate strategy: defines the scope of the firm in terms of the industries and market in which it competes. Include vertical integration, acquisitions, new ventures and investment in di(cid:448)ersifi(cid:272)atio(cid:374). (cid:862)(cid:449)hi(cid:272)h i(cid:374)dustries should (cid:449)e (cid:271)e? (cid:863) Business strategy: concerned with how the firm competes within a particular industry or (cid:373)arket. Also referred to as (cid:272)o(cid:373)petiti(cid:448)e strateg(cid:455). (cid:862)ho(cid:449) should (cid:449)e (cid:272)o(cid:373)pete? (cid:863: mission/principles/vision/strategy. Mission: the basic statement of organizational purpose; it addressed (cid:862)(cid:449)h(cid:455) (cid:449)e e(cid:454)ist. (cid:863) (cid:1006)(cid:895). Pri(cid:374)(cid:272)iple: (cid:862)(cid:449)hat (cid:449)e (cid:271)elie(cid:448)e i(cid:374) a(cid:374)d ho(cid:449) (cid:449)e (cid:449)ill (cid:271)eha(cid:448)e. (cid:863) (cid:1007)(cid:895). Trateg(cid:455): (cid:862)(cid:449)hat our (cid:272)o(cid:373)petiti(cid:448)e ga(cid:373)e pla(cid:374) (cid:449)ill (cid:271)e. (cid:863) Intended strategy: strategy as conceived of by the top management team. Intended strategy is less a product of rational deliberation and more an outcome of negotiation, bargaining, and compromise among the many individuals and groups involved in the process. Realized strategy: the actual strategy that is implement---is only partly related to that which was intended.