MANAGEMENT CHAPTER 4 KEY TERMS
3p's of organizational performance - correct answer-profit, people, planet
business model innovations - correct answer-result in ways for firms to make money
competitive advantage - correct answer-is something that an organization does extremely
well, its difficult to occupy,and that gives it an advantage over competitors in the marketplace
disruptive innovation - correct answer-creates products or services that become so widely
used that they largely replace prior practices and competitors
environmental capital (natural capital) - correct answer-is the supply of natural
resources-atmosphere, land, water, and minerals-that sustains life and produces goods and
services for society
Environmental Uncertainty - correct answer-is lack of information regarding what exists in
the environment and what developments may occur
General Environment - correct answer-consists of economic, legal-political, sociocultural,
technological, and natural environment conditions which the organization operates
generational cohorts - correct answer-consists of people born within a few years of one
another and who experience somewhat similar life events during their formative years
innovation - correct answer-is the process of taking a new idea and putting it into practice
Internet Censorship - correct answer-is the deliberate blockage and denial of public access
to information posted on the internet
Offshoring - correct answer-is the outsourcing of jobs to foreign locations
process innovations - correct answer-result in better ways of doing things
Product innovations - correct answer-result in new or improved goods or services
reshoring - correct answer-is the moment of jobs from foreign locations back to domestic
ones
reverse innovations - correct answer-is launched form lower organizational levels and
diverse locations, including emerging markets
social business innovation - correct answer-find ways to use business models to address
important social problems
3p's of organizational performance - correct answer-profit, people, planet
business model innovations - correct answer-result in ways for firms to make money
competitive advantage - correct answer-is something that an organization does extremely
well, its difficult to occupy,and that gives it an advantage over competitors in the marketplace
disruptive innovation - correct answer-creates products or services that become so widely
used that they largely replace prior practices and competitors
environmental capital (natural capital) - correct answer-is the supply of natural
resources-atmosphere, land, water, and minerals-that sustains life and produces goods and
services for society
Environmental Uncertainty - correct answer-is lack of information regarding what exists in
the environment and what developments may occur
General Environment - correct answer-consists of economic, legal-political, sociocultural,
technological, and natural environment conditions which the organization operates
generational cohorts - correct answer-consists of people born within a few years of one
another and who experience somewhat similar life events during their formative years
innovation - correct answer-is the process of taking a new idea and putting it into practice
Internet Censorship - correct answer-is the deliberate blockage and denial of public access
to information posted on the internet
Offshoring - correct answer-is the outsourcing of jobs to foreign locations
process innovations - correct answer-result in better ways of doing things
Product innovations - correct answer-result in new or improved goods or services
reshoring - correct answer-is the moment of jobs from foreign locations back to domestic
ones
reverse innovations - correct answer-is launched form lower organizational levels and
diverse locations, including emerging markets
social business innovation - correct answer-find ways to use business models to address
important social problems
