5 Written questions
5 Matching questions
- Strategic Mission
- Strategic plan
- Ways groups can help
- Strategic goal
- Contingency Plan
- a major targets or end results relating to long-term survival, value and growth
- b An organization's basic purpose and scope of operations.
Clear and concise expression of the organization's basic purpose.
- c Plan B - an alternative plan in case the original plan doesn't work
- d More info available
Greater number of perspectives
Stimulates discussion and thinking
Leads to higher commitment
- e A set of procedures for making decisions about long term goals and strategies.
5 Multiple choice questions
- Ongoing activities. May become more permanent rules and policies
- S- Strengths
- Where will we be active?
How will we get there?
How will we win the marketplace?
How fast will we move, and in what sequence will we make changes?
How will we obtain financial returns?
- a strategy an organization uses to build competitive advantage by being unique in its industry or market segment along one or more dimensions. (Nordstrom)
- 1. Analyze the situation
2. Alternative goals and plans
3. Goal and plan evaluation
4. Goal and plan selection
6. Monitor and Control Performance
5 True/False questions
Benchmarking → 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
T. O. W. S. Analysis → a process planners use, within time and resources constraints, to gather, interpret, and summarize all information relevant to the planning issue under consideration.
Internal forces at work in the organization
Influences from the external environment.
Tactical Planning → Frontline Managers
identifies specific procedures and processess required to implement - focus is on rutine tasks like production and schedules
Business Strategy → a strategy an organization uses to build competitive advantage by being efficient and offering a standard, no-frills product. (Walmart)
Operational Planning → Middle Level and Lower Level
translates broad strategic into specific goals and plans relevent to the particular part of the org