MGMT-UB 1 Study Guide - Midterm Guide: Organizational Effectiveness, Bargaining Power, Absolute Advantage
19 Jul 2016
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Document Summary
Evidence-based management: basing managerial decisions and practices on empirical data and evidence. (outside comp: surveys and market reports; in comp: surveys and quality control of production). Is not gut feeling or common sense or intuition . Organization: a social collective with assignment task and roles to achieve a purpose. Open systems model is a system that interacts with its environment. National and global cultures, economic conditions, business trends, Education, demographics, skills, experience, cash flow, assets, raw materials, reputation. Quantifiable financial performance,, mission fulfillment, efficient use of resources, innovation, ability to adapt. Strategy: goals of the organization, decisions about how to use inputs to accomplish these goals. The central, integrated, externally focused concept of how the firm will achieve its objectives. Organizational effectiveness is driven in large part by the congruence (or fit) among the elements of the system. Output problems can often be explained by misfits in elements.
