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Study Guide

BU481- Final Exam Guide - Comprehensive Notes for the exam ( 23 pages long!)


Department
Business
Course Code
BU481
Professor
Karin Schnarr
Study Guide
Final

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WLU
BU481
FINAL EXAM
STUDY GUIDE

Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

Chapter 1 General Management Perspective
Role of General Manager
Setting direction vision, mission, values
Creating strategy determining the way forward
Implementing change making it happen
Assessing performance using performance matrix or balance scorecard
Performance Matrix Organizational health and Operating Performance
Quadrant 1 Desired State, positive in both organizational health and operating performance
e.g. apple, Facebook, google
Quadrant 2 - Complacent organization, positive in organizational health, but negative in
operating performance e.g. postal service, culture is great but operating performance is slow
Quadrant 3 troubled organization, negative in organization health but positive in operating
performance e.g. investment banking industry,
Quadrant 4 crisis, negative organizational health and negative operating performance, e.g.
Sears
Balanced Scorecard
Asks 4 basic questions:
o 1.) Can we continue to improve and create value? Innovation and learning, e.g.
employee capabilities, motivation, information technology
o 2.) What must we excel at? Internal, e.g. quality, productivity, after sales service,
delivery
o 3.) how do our customers see us? Customer, e.g. market share, customer retention,
customer satisfaction, customer acquisition
o 4.) How do we look to shareholders? Financial, e.g. revenue growth, cost management,
asset utilization
Key Measures
o Trend in sales and market share
o Trend in net profits, EPS, and ROE
o Overall financial strength and credit rating
o Trend in stock price
Setting Direction Vision, Mission, Values
Vision
o Strong sense of direction for the company
o Clearly communicate purpose of the business
o Reinforce the day to day actions
o Provide direction for the strategy formulation
Vision Acid Test on usefulness:
o Desirable and Feasible destination
o Flexibility for Management to get there
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o Stretch for organization to achieve
Strategic vision vs Mission
Strategic vision - focuses on where we want to go
Mission who we are and what we do, a clear and compelling goal that serves to unify an
organization’s efforts
Payoffs of a Clear Strategic Vision
Crystallizes an organization’s long-term direction
Reduces risk of rudderless decision making
Creates a committed enterprise where organizational members enthusiastically pursue efforts
to make the vision a reality
Provides a beacon to keep strategy-related actions of all managers on common path
Helps an organization prepare for the future
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