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5 Written questions

5 Matching questions

  1. Six stages to formal decision making
  2. Core competence
  3. Concentric diversification
  4. Analyze internal strengths and weaknesses
  5. Single Use Plan
  1. a A unique skill and/or knowledge an organization possesses that gives it an edge over competitors
  2. b corporate strategy moving into new businesses that relate to the original core business.
  3. c One time use - for things that likely won't happen again
  4. d Internal resource analysis
    Financial analysis
    Human resources assessment
    Marketing audit
    Operations analysis
    Other internal resource analyses
  5. 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

  1. 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
  2. A set of procedures for making decisions about long term goals and strategies.
  3. They don't segment the data and they are too generalized.
  4. 1. Analyze the situation
    2. Alternative goals and plans
    3. Goal and plan evaluation
    4. Goal and plan selection
    5. Implementation
    6. Monitor and Control Performance
  5. • Psychological Biases
    • Time Pressures:
    • Social Realities

5 True/False questions

  1. Strategic goalEvolve from the organization's mission and vision.
    The steps and processes to achieve the mission and vision

          

  2. 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

          

  3. Strategic VisionThe 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

          

  4. Low Cost StrategyIdentifies the set of businesses, markets, or industries in which the organization competes as well as how the resources are distributed.
    WHERE you do business.

          

  5. BCG MatrixTarget or end that management desires to reach.
    Stresses creativity
    Encourages everyone to think broadly

          

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