MCE Test Three

Define Strategy: - Answer- The coordinated set of actions that managers take to outperform organization's competitors and achieve superior success. -Provides direction and guidance (What you should/should not do) What allows companies to maximize their success? - Answer- Knowing how to look ahead, spot trends, and anticipate the course of action you will follow to maximize your success. Requires: Acumen, planning, visioning, courage Are values, visions, missions extrinsic or intrinsic motivators? - Answer- Intrinsically motivating (Motiving by themselves, aligned with our values or meet some need of ours, Value is protecting animals I don't need a reward to volunteer at an animal shelter(Submitting simulation because I want to learn)) Are objectives extrinsic or intrinsic motivators? - Answer- Extrinsic motivation (Motivated by pay, promotion (Submitting simulation because I want a good grade)) What does a solid vision create? - Answer- An idealized future state for your organization that everyone is motivated to purse wholeheartedly What do visions tell people? - Answer- 1. Where the organization is headed 2. Why its moving in that stated direction 3. Makes members want to do everything they can to help get it there What should a vision address? - Answer- the basic assumptions about what is important for the organization, how it should relate to the environment, and how people should be treated (-Gary Yuki) How do visions work in complex environments? - Answer- 1. Focused enough to guide decisions and actions 2. General enough to allow innovation and creativity in strategies for attaining it What are five things a vision should not be? - Answer- 1. Be generic, vague, or run on and on 2. Be a complicated plan with quantitative objectives or detailed action steps 3. Use overly broad language, bland language, or superlatives 4. Emphasize immediate tangible benefits or dwell on the present 5. Be a wishful fantasy What are five things a vision should be? - Answer- 1. Meaningful- appeal to values, hop