Podcast
Questions and Answers
What is the primary objective of scanning the internal environment?
What is the primary objective of scanning the internal environment?
- To benchmark with other firms and set performance metrics
- To identify opportunities and threats in the external environment
- To analyze the organization's overall performance level and identify strengths and weaknesses (correct)
- To formulate business-level strategies and support the corporation's overall mission
What is the outcome of completing the internal analysis?
What is the outcome of completing the internal analysis?
- Identification of external opportunities and threats
- Benchmarking with other firms in the industry
- Identification of organizational strengths and weaknesses (correct)
- Formulation of functional-level strategies
What is the purpose of conducting a SWOT analysis?
What is the purpose of conducting a SWOT analysis?
- To formulate corporate-level strategies and business-level strategies
- To analyze the external environment and identify opportunities and threats
- To analyze the organization's strengths, weaknesses, opportunities, and threats (correct)
- To identify only the organization's strengths and weaknesses
What is the role of corporate-level strategy?
What is the role of corporate-level strategy?
What is the primary focus of business-level strategy?
What is the primary focus of business-level strategy?
What is the role of functional-level strategy?
What is the role of functional-level strategy?
What is a characteristic of mechanistic organizations?
What is a characteristic of mechanistic organizations?
Which of the following is a contingency factor that influences an organization's structural choice?
Which of the following is a contingency factor that influences an organization's structural choice?
What is the traditional view regarding the relationship between strategy and structure?
What is the traditional view regarding the relationship between strategy and structure?
What is a characteristic of large organizations?
What is a characteristic of large organizations?
Why do organizations adapt their structures to their technology?
Why do organizations adapt their structures to their technology?
What is the purpose of technology in an organization?
What is the purpose of technology in an organization?
What is the primary objective of a stability strategy?
What is the primary objective of a stability strategy?
When does a company typically employ a turnaround strategy?
When does a company typically employ a turnaround strategy?
What is the key characteristic of a differentiation strategy?
What is the key characteristic of a differentiation strategy?
What is the primary goal of a cost leadership strategy?
What is the primary goal of a cost leadership strategy?
What is the purpose of a retrenchment strategy?
What is the purpose of a retrenchment strategy?
What is the result of a stability strategy?
What is the result of a stability strategy?
Which type of organizations are more likely to adopt contemporary organizational designs?
Which type of organizations are more likely to adopt contemporary organizational designs?
What is a major advantage of a design team structure in contemporary organizations?
What is a major advantage of a design team structure in contemporary organizations?
Which of the following is a disadvantage of a matrix structure in contemporary organizations?
Which of the following is a disadvantage of a matrix structure in contemporary organizations?
What is a characteristic of a virtual organization in contemporary organizations?
What is a characteristic of a virtual organization in contemporary organizations?
What is a benefit of a hybrid structure in contemporary organizations?
What is a benefit of a hybrid structure in contemporary organizations?
Which of the following is a disadvantage of a contemporary organizational design?
Which of the following is a disadvantage of a contemporary organizational design?
What is the primary objective of HR planning in an organization?
What is the primary objective of HR planning in an organization?
Which of the following is a method of derecruitment?
Which of the following is a method of derecruitment?
What is the purpose of selection devices in the hiring process?
What is the purpose of selection devices in the hiring process?
What is the criteria for a correct selection decision?
What is the criteria for a correct selection decision?
What is the primary difference between layoffs and firings?
What is the primary difference between layoffs and firings?
What is the primary benefit of using internal recruits in the hiring process?
What is the primary benefit of using internal recruits in the hiring process?
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Study Notes
Internal Analysis
- Provides strategic decision makers with an inventory of the organization's existing functions, skills, and resources as well as its overall performance level.
- Includes looking at the firm's resources and core competencies.
- Identifies organizational strengths and weaknesses.
SWOT Analysis
- Combines external and internal analyses to identify strengths, weaknesses, opportunities, and threats.
- Helps managers formulate strategies that exploit strengths, buffer against threats, and correct weaknesses.
Strategy Formulation
- Involves corporate level strategy (what business are we in?), business level strategy (how do we compete?), and functional level strategy (how do we support the business level strategy?).
- Strategies should exploit strengths, buffer against threats, and correct weaknesses.
Organizational Structure
- Mechanistic organizations are rigid and tightly-controlled, with high specialization and departmentalization.
- Organic organizations are highly adaptive and flexible, with cross-functional teams and free flow of information.
- Contingency factors affecting structural choice include strategy, size, and technology.
Growth Strategies
- Stability strategy: continues to do what it is currently doing.
- Renewal strategy: pursued in the face of challenges or declining performance, including retrenchment and turnaround strategies.
Business Level Strategy
- Differentiation: builds competitive advantage by being unique in its industry or market segment.
- Cost leadership: builds competitive advantage by being efficient and offering a standard, no-frills product.
Organizational Designs
- Team structure: employees are more involved and empowered.
- Matrix structure: reduces barriers among functional areas.
- Hybrid structure: combines different organizational designs.
- Virtual organization: utilizes talent wherever it's found and has reduced expenses.
Human Resource Planning
- Involves planning for future HR needs based on the organization's mission, goals, and strategies.
- Includes planning for recruiting, laying off, training, and development of employees.
Recruitment and Derecruitment
- Recruitment involves locating, identifying, and attracting capable applicants.
- Derecruitment involves reducing an organization's workforce through firing, layoffs, attrition, transfers, reduced workweeks, early retirement, and job sharing.
Selection
- Involves screening job applicants to ensure the most appropriate candidates are hired.
- Selection devices should be valid and reliable.
- A correct decision is when the applicant was predicted to be successful and proved to be successful on the job.
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