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5 Written questions

5 Matching questions

  1. 3 levels of planning
  2. Situational analysis:
  3. Benchmarking
  4. When evaluating goals and plans, need to :
  5. Strategic goals
  1. a Evaluate advantages, disadvantages, and potential effects of each alternative goal and plan.
    Prioritize the goals
    Consider the costs of each initiative and the likely investment return.
  2. b Evolve from the organization's mission and vision.
    The steps and processes to achieve the mission and vision
  3. c a process planners use, within time and resources constraints, to gather, interpret, and summarize all information relevant to the planning issue under consideration.
    Focus on:
    Internal forces at work in the organization
    Influences from the external environment.
  4. d Determining how well one company's compare with another company or set of companies.
    Understanding "best practices" of other firms
    Take actions to achieve better performance and lower costs
    Ford, Corning, Toyota
  5. e Top-level managers: Strategic planning
    Middle-level managers: Tactical planning
    Lower-level managers: Operational planning . Internal Alignment is crucial here

5 Multiple choice questions

  1. The major actions by which an organization competes in a particular industry or market.
    HOW you do business
  2. An organization's basic purpose and scope of operations.
    Clear and concise expression of the organization's basic purpose.
  3. A set of procedures for making decisions about long term goals and strategies.
  4. system to support managers in evaluating the organizations progress regarding its strategy and when discrepancies exist, taking corrective action.
  5. a strategy an organization uses to build competitive advantage by being unique in its industry or market segment along one or more dimensions. (Nordstrom)

5 True/False questions

  1. What are Stakeholders?S- Specific : precise, describe details
    M- Measurable : objective, 3 mos., 6 mos. 1 yr
    A- Attainable : achievable
    R- Relevant : contribute to the organization's goals
    T- Time-bound : Specify a target date for completion

          

  2. Analyze internal strengths and weaknessesIndustry profile
    Industry growth
    Industry forces
    Competitor profile
    Competitor analysis
    Competitor advantages
    Legislation and regulatory activities
    Political activity
    Social issues
    Social interest groups
    Labor issues
    Macroeconomic conditions
    Technological factors

          

  3. Six stages to formal decision making• Psychological Biases
    • Time Pressures:
    • Social Realities

          

  4. Cash cowsBCG Category of Business: - low-growth businesses with a strong competitive position that generates revenues in excess of their investment needs, so they fund other businesses

          

  5. External Threats and OpportunitiesIndustry profile
    Industry growth
    Industry forces
    Competitor profile
    Competitor analysis
    Competitor advantages
    Legislation and regulatory activities
    Political activity
    Social issues
    Social interest groups
    Labor issues
    Macroeconomic conditions
    Technological factors

          

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