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5 Written questions

5 Matching questions

  1. Analyze internal strengths and weaknesses
  2. Strategic plan
  3. What are Stakeholders?
  4. Core competence
  5. Standing plan
  1. a A unique skill and/or knowledge an organization possesses that gives it an edge over competitors
  2. b A set of procedures for making decisions about long term goals and strategies.
  3. c Groups and individuals who affect and are affected by the achievement of the organization's mission, goals, and strategies.
    EX: Buyers, suppliers, competitors, government and regulatory agencies, unions and employee groups, financial community, owners and shareholders, and trade associations.
    The environmental analysis examines stakeholders
    St. Paul Public Library
  4. d Ongoing activities. May become more permanent rules and policies
  5. e Internal resource analysis
    Financial analysis
    Human resources assessment
    Marketing audit
    Operations analysis
    Other internal resource analyses

5 Multiple choice questions

  1. 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.
  2. a strategy an organization uses to build competitive advantage by being unique in its industry or market segment along one or more dimensions. (Nordstrom)
  3. More info available
    Greater number of perspectives
    Stimulates discussion and thinking
    Encourages participation
    Leads to higher commitment
  4. 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.
  5. Strategies that are implemented by each functional area of the business to support the business strategy.
    Includes major functional areas like production, human resources, marketing, etc.
    The last strategy to be developed

5 True/False questions

  1. Vertical integrationcorporate strategy of a single business in a single industry


  2. 3 levels of planningTop Level Management
    effectiveness, efficiency, market share, profit, ROI,


  3. Business StrategyThe major actions by which an organization competes in a particular industry or market.
    HOW you do business


  4. Strategic PlanningTop Level Management
    effectiveness, efficiency, market share, profit, ROI,


  5. Strategic goalsEvolve from the organization's mission and vision.
    The steps and processes to achieve the mission and vision