GMS 200 Study Guide - Final Guide: Fiedler Contingency Model, Strategic Alliance, Ethnocentrism

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Horatio Morgan

Document Summary

Benchmarking: using external comparisons to better evaluate current performance and identify possible actions for the future. Best practices: a benchmarking technique that involves identifying those things that help both competitors and noncompetitors achieve superior performance. Budget: a single-use plan that commits resources to activities, projects, or programs. Complacency trap: is being carried along by the ow of events. Contingency planning: identi es alternative courses of action that can be implemented to meet the needs of changing circumstances. Forecasting: the process of making assumptions about what will happen in the future. Functional plans: indicate how different operations within the organization will help advance the overall strategy. Hierarchy of goals: lower-level objective are a means to accomplishing higher-level ones. Hierarchy of objectives: a means-ends chain in which lower-level objectives (the means) lead to the accomplishment of higher-level objectives (the ends). Improvement objectives: describe intentions for speci c performance improvements.