The Internet has provided a small subset of companies with greater tools for managing
costs.
Social responsibility is the idea that organizations are not only accountable to
stockholders but also to the community-at-large.
Supplier power tends to be highest in industries where products are vital to buyers,
where switching from one supplier to another is very costly, and where there are many
suppliers.
The strategic goals of corporate entrepreneurship are often just as important as the
financial goals.
The software maker, Intuit, successfully implemented a turnaround strategy by
discontinuing product lines and focusing all resources on a few core profitable areas.
360-degree evaluation and feedback systems address many of the limitations of
traditional approaches of evaluating human capital.
When using industry norms as a standard of comparison, managers must be sure that
the firms used in the comparisons are representative of all sizes and strategies within
the industry.
Designing the organization is the leadership activity that involves building structures,
teams, systems, and processes that facilitate the implementation of leader vision.
Small businesses create the majority of new jobs in the U. S. economy.
Firms such as Apple and Google will tend to have a higher ratio of market value to
book value than industrial companies such as Nucor Steel.
The majority of entrepreneurial start-ups are financed with personal savings and the
contributions of family and friends.
Different functional areas within an organization often have different reward systems.
According to Henry Mintzberg, a management scholar, most firms realize their original
intended strategy.