5 Written questions
5 Matching questions
- Six stages to formal decision making
- Core competence
- Concentric diversification
- Analyze internal strengths and weaknesses
- Single Use Plan
- a A unique skill and/or knowledge an organization possesses that gives it an edge over competitors
- b corporate strategy moving into new businesses that relate to the original core business.
- c One time use - for things that likely won't happen again
- d Internal resource analysis
Human resources assessment
Other internal resource analyses
- e 1. Identify and diagnose problem
2. Generate alternative solutions
3. Evaluate alternatives
4. Make the choice
5. Implement the plan
6. Evaluate and repeat
5 Multiple choice questions
- BCG 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
- A set of procedures for making decisions about long term goals and strategies.
- They don't segment the data and they are too generalized.
- 1. Analyze the situation
2. Alternative goals and plans
3. Goal and plan evaluation
4. Goal and plan selection
6. Monitor and Control Performance
- • Psychological Biases
• Time Pressures:
• Social Realities
5 True/False questions
Strategic goal → Evolve from the organization's mission and vision.
The steps and processes to achieve the mission and vision
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
Strategic Vision → The long-term direction and strategic intent of a company.
Points to the future
Inspire organization members
Offer a worthwhile target for the entire organization to work together to achieve.
Points to where the organization is headed and what it can become
Low Cost Strategy → Identifies the set of businesses, markets, or industries in which the organization competes as well as how the resources are distributed.
WHERE you do business.
BCG Matrix → Target or end that management desires to reach.
Encourages everyone to think broadly