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BUSI 3103 (20)
Chapter 2

BUSI 3103 Chapter 2: Chapter 2
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Department
Business
Course
BUSI 3103
Professor
Rumisa Shaukat
Semester
Summer

Description
Operative Goals: designate the ends sought through the actual operating procedures of the organization and what the organization is trying to do. Specific measurable outcomes and usually on primary tasks an organization must perform. Overall Performance (OPG): Profitability reflects the overall performance of for-profit organizations Resources (OPG): pertain to the acquisition of needed material and financial resources from the environment. Market (OPG): relate to the market share/standing desired by the organization. The responsibility of marketing, sales and advertising departments Employee Development (OPG): refers to the training, promotion, safety, and growth of employees including managers and workers. Innovation and Change (OPG): pertain to internal flexibility and readiness to adapt to unexpected changes in the environment Productivity (OPG): concern the amount of output achieved from available resources. Official Goals: the formally stated definition of business scope and outcomes the organization is trying to achieve. Describe a values system and legitimize the organization. Strategy: a plan for interacting with the competitive environment to achieve organizational goals. How they get there. Focus Strategy: organization concentrates on a specific market or buyer group. Managers need to evaluate competitive advantage and scope. Then decide whether to use low-cost or differentiate and broad or narrow scope. Differentiation Strategy: Organizations attempt to distinguish their products or services from others in the industry Low-Cost Leadership: tries to increase market shares by emphasizing low cost compared with competitors. Organization seeks efficient facilities, costs reductions and tight controls on production of goods and services. Miles and Snow 's Typology: based on the idea that managers seek to formulate strategies that will fit well with the external environment Prospector (MST): innovate, takes risks, seek new opportunities and grow. Suited to a dynamic growing environment where creativity is more important. Defender (MST): concerned with stability, hold on to current customers but does not innovate or grow. Focus is on internal efficiency and tight control on production. Useful for a stable or declining
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