Ctrl + F is the shortcut in your browser or operating system that allows you to find words or questions quickly.
Ctrl + Tab to move to the next tab to the right and Ctrl + Shift + Tab to move to the next tab to the left.
On a phone or tablet, tap the menu icon in the upper-right corner of the window; Select "Find in Page" to search a question.
Share UsSharing is Caring
It's the biggest motivation to help us to make the site better by sharing this to your friends or classmates.
A comprehensive course that equips individuals with the knowledge and skills to develop and execute effective business strategies, and competitive advantage.
Creating competitive advantage through effective management of the strategy-making process.
It is the areas in the business that needs to improve to remain competitive.
It is an analytical process of selection of the best suitable course ofaction to meet the organizational objectives and vision.
Employees without__ are worthless resources to the organization.
It refers to the actions that managers have to take or do in order toensure that what has been set in the objective can be achieved.
When companies decide to compete internationally, they should automatically use the same strategies that they used in local markets.
Technological advancement can create new__ advantages that are more powerful than existing advantages.
This promise high returns so reinvest heavily to defend market share and position.
The action stage of strategic management is called strategy formulation.
It is a strategy which focuses on reducing the costs involved in providing a product or service.
When someone has achieved status, privilege, or self-esteem througheffectively using an old system, he or she often sees a new plan as a threat.
Which is not a Pitfall in Strategic Planning?
It refers to factors that have the potential to harm an organization.
The translation of the strategy into action takes place here, and it details the firm's competitive tactics and initiatives.
When someone has achieved status, privilege, or self-esteem through effectively using an old system, he or she often sees a new plan as a threat.
Johnson and Scholes three ways in strategies selection.
What are the Steps Involved in Environmental analysis?
Organizations need to set adequate and appropriate objective to cover all performance areas.
It can be defined as a group of techniques that assist strategists in making strategic decisions regarding individual products or businesses in a firm’s portfolio.
Strategy provides some framework for guiding organizational thinkingand action.
Set of related actions that managers take to increase their company's performance.
Strategy Evaluation is where the organization’s mission, objectives, and strategies are defined and set.
This is done to estimate the degree of variation between the actual and the standard performance of an organization.
Who are the individuals who are most responsible for the success or failure of anorganization?
Statement of how employees should conduct themselves and their business to help achieve the company mission.
Identification of key strengths and weaknesses of the firm helps in narrowing down the choice of alternatives and choosing a strategy.
_____________________is where you buy the land, build the facility and operate the business on an ongoing basis in a foreign market.
It refers to the actions that managers have to take or do in order to ensure that what has been set in the objective can be achieved.
It is described as the "Long-term Market or Competitive Position"
Implementing strategy means mobilizing employees and managers to put formulated strategies into action.
It is the 1+1=3 process. Two companies agree to work together in a particular market,either geographic or product, and create a third company to undertake this.
Have a potential to be stars if successfully developed.
People may be uncertain of their abilities to learn new skills, of their aptitude with new systems, or of their ability to take on new roles.
Demographic and psychographic factors are the primary indicators considered in defining the organization’s target market.
It refers to selling directly into the market you have chosen using in the first instance your own resources.
Strategy is concerned with both thought and actions. While policy is concerned mostly with action.
It implies the process of critically examining the factors that highly influence the business, as all the factors identified in the previous step effects the entity with the same intensity.
__is a particularly useful strategy in those markets where the culture, both business and social, is substantively different than your own as local partners bring local market knowledge, contacts and if
Feedback plays a very important role in the evaluation stage, providing the strategists with insights on how the implemented strategies are faring.
It is the dream of the business and an inspiration, base for the planning process.
In these circumstances the company should certainly consider making available resources in excess of what the product can generate.
Policy should be__________ or else it will lead to indecisiveness and uncertainty in minds of those who look into it for guidance.
The mission statement answer which question?
It focuses on providing a product or service that is perceived as being unique and hard to replicate.
Which is in a proper order?
It is a model that identifies and analyzes five competitive forces that shape every industry and helps determine an industry's weaknesses and strengths.
Investment should be made to allow the product to grow with the market.
In the Directional Policy Matrix, the horizontal axis is defined as__.
__is as significant as strategy formulation because it throws light on the efficiency and effectiveness of the comprehensive plans in achieving the desired results.
Its four-quadrant framework indicates whether aggressive, conservative, defensive, or competitive strategies are most appropriate for a given organization.
Which of the following is the third step in strategy formulation?
This addresses the management or leadership in force within the organization, from top management to the team leaders and managers in the smaller units.
Some firms do not do strategic planning because some may think that if a firm is successful, individuals may feel there is no need to plan because things are fine as they stand.
Only verifiable objectives can be meaningfully used in strategic management.
In this, some investments may be justified but major investments should be made with extreme caution.
Strategy must be uniform enough so that it can be efficiently followed by the subordinates.
Which is not an element of Strategy Formulation?
Need very little capital expenditure but return high levels of cash income. Can be used to finance the stars.
Strategy Implementation ensures the long-term survival of the firm while coping with competition and surviving the dynamic environment.
Weaknesses stands for a major unfavorable situation in the firm’s environment or an impediment to the firm’s current and/or desired future position.
__works well for firms that have a repeatable business model (eg. food outlets) that can be easily transferred into other markets.
What are the Five (5) factors that support strategy implementation?
Both an Art and science of formulating, implementing, and evaluating, cross-functional decisions that facilitate an organization to accomplish its objectives.
It is time-based measurable actions, which help in the accomplishment of goals.
This takes Strategic Intent to an all-together new level by including the employee's emotions with the organization aspirations.
Comes from the Greek word "strategos", which refers to a military general.
__deals with acquisition of resources with which organizational goals can be achieved.
Because of their low market share these businesses are often expected tohave a higher cost structure than industry leaders. What is this?
Strategy is derived from the Greek word strategos, meaning military leader or general.
According to __, strategy is organisation‘s pattern of response to its environment over a period of time to achieve its goals and mission.”
___________ is the domain that the business hopes to dominate.
It must be visible to everyone, and clearly identify how the departments, divisions, units and sections are organized, with the lines of authority and accountability clearly established.
Strategy provides overall framework for guiding organizational thinking and action.
It is a method or plan chosen to bring about a desired future, such as achievement of a goal or a solution to a problem.
Strategy formulation tackles the__and _________of the activities of the organization.
It represents what the organization must achieve in order for it to become competitive – or to remain competitive – and ensure sustainability of thebusiness over the long term.
Some organization do not engage in strategic planning because managers and employees show no support.
People know that power relationships are a key reality in organizational life.In many enterprises, if the top manager begins to advocate one alternative,the decision to choose it is soon unanimous.
Strategic objectives should not be communicated to the employees to protect the important information.
It refers to favorable external factors that could give an organization a competitive advantage.
What are the three major components in Strategic Management?
This does not imply that a policy should be altered always, but it should be wide in scope so as to ensure that the line managers use them in repetitive/routine scenarios.
Goals are the end results that the organization attempts to achieve.
Without a perfect foresight, the firms must be ready to deal with the uncertain events which constitute the business environment.
Policy must be unambiguous. It should avoid use of jargons and connotations.
Which of the following is not a major attribute of strategic intent?
They are the end users of the products and services that the companyoffers.
A vision statement answers the question__.
This level answers the question of how you are going to compete.
Which is not belong in the group?
Strategy deals with long term developments rather than short-term operations.
Who are the individuals who are most responsible for the success or failure of an organization?
__viewed that in developing strategy, it was essential to systematically anticipate future environmental challenges to an organization, and draw up appropriate strategic plans for responding to these
It is the degree to which the company is able to use the same products and methods in other countries.
It describe what an organization excels at and what separates it from the competition.
Strategic Management serves as a foundation for all key decisions of the firm.
Particular to companies that provide services such as environmental consulting, architecture, construction and engineering.
________________is used when a company is primarily focused on its domestic operations. It does not intend to expand globally but does export some products to take advantage of international opportunities.
_____________customizes products or processes to the specific conditions in each country.It tailors the product selection, payment methods, and marketing to the values and regulations in each country where it operates.
A self-contained division that provides a product or service for a particular market.
Which is an element of strategy Implementation?
If you have a particularly interesting and unique product or service that you sell to large domestic firms that are currently involved in foreign markets you may want to approach them to see if your product or service can be included in their inventory for international markets.
It is the framework used to evaluate a company's competitive position and to develop strategic planning.
This level concentrates on how an organization is going to grow. It defines daily actions including allocation of resources to deliver corporate andbusiness level strategies.
It seeks to explain the business undertaken by the firm, with respect to the customer needs, target audience, and alternative technologies.
Selecting strategies based on analysis of an organization's external and internal environment.
It is an involved, intricate, and complex process that takes an organization into uncharted territory.
It has vital role in businesses by indicating current and potential opportunities or threats outside the company in its external environment.
It is the 1+1=3 process. Two companies agree to work together in a particular market, either geographic or product, and create a third company to undertake this.
It is the methodical evaluation of the key internal features of an organization and recognizes and assesses resources, capabilities, and core competencies.
A statement, that provides a perspective of the means, which will lead the organization, reach the vision in the long run.
Short-term milestones that organizations must achieve to reach long-term objectives.
________________ is used when a company faces significant cost pressure from international competitors but must also offer products that meet local customer needs.
It is the framework used to evaluate a company's competitive position and todevelop strategic planning.
It is a tool that can be used to determine what priorities should be given in the product portfolio of a business unit.
Anything that a firm does especially well compared to rival firms is referred to as?
Igor Chandler is the Father of Strategic Management.
The systematic analysis of the factor associated with customers and competitors and the organization itself to provide the basis for maintaining optimum management practices.
It refers to the projected rate of sales growth for the market that a particular business caters to.
SWOT stands for ?
What can be defined as the art and science of formulating, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives?
In the Directional Policy Matrix, the vertical axis is defined as__.
It is an objective that seeks to attain in reality.
The quality of the objectives can be judge on the basis of its ability to give scientific direction.
It states that, there should be a clear indication and guide on how the main activities or operations of the business are carried out.
A policy is what is, or what is not done. While a strategy is the methodology used to achieve a target as prescribed by a policy.
It is an economic term describing the existence of high start-up costs or other obstacles that prevent new competitors from easily entering an industry or area of business.
This level outlines what you want to achieve: growth, stability, acquisition or retrenchment. It focuses on what business you are going to enter the market.
Putting Strategy into action.
It states that Strategic Intent is differentiated because here in this case the employees are allied and they are convinced about the concept of Strategic Intent.
When an organization assumes success, it often fails to rewardsuccess. When failure occurs, then the firm may punish.
Enumerate the Porter's Five Forces. Competition in the Industry, Potential of New Entrants Into an Industry, Power of Suppliers, Power of Customers, Threat of Substitutes
It is designed to help potential shareholders and investors understand the purpose of the company.
He defines strategy as a creation of a unique and valued position involving a different activity from rivals or performs similar activities in different ways.
____________is used when a company treats the whole world as one market with little meaningful variation. The assumption is that one product can meet the needs of people everywhere.
It means the ratio of the business’s market share divided by the market share of the largest competitor in that market and provides a basis for comparing the relative strengths of different businesses in the portfolio.
The quality of the objectives can be judged on the basis of its ability to give specific direction and tangible basis for evaluating the performance.
Strategy provides some framework for guiding organizational thinking and action.
To keep up this site, we need your assistance. A little gift will help us alot.
Donate- The more you give the more you receive.
Related SubjectThe Supply Chain
Initiating Major Organizational Shifts
Retail Merchandising
Management
Emergency and Disaster Management
Architectural Studies
Strategic Business Analysis
Strategy Management and Acquisition
Risk Management
Society and Culture with Family Planning
Project Management
Principles of Management
Management Accounting
Health Assessment
Fundamentals of Nursing Practice
Ukraine's Advances and Russia's Push in Donetsk
Oleksandr Usyk: The Art of Boxing
Mike Brown: Basketball Coaching
Houthi, Missile, and Israel in Modern Conflicts
Big Lots Business Insights
Street Fighter 6 Game
Brawl Stars Game
Black Ops 6: Citadelle des Morts Game
Hay Day Game
Clash of Clans Game
Mobile Legends: Bang Bang Game
Candy Crush Soda Saga: Design and Strategy
Dak Prescott: Leading the Cowboys
Squid Game: Season 2
Massage Machines
Knowledge Management
Entrepreneurship Information
Barber Shop Business Plans
Social Media Specialist
Marketing
Business Administration
Social Media Communications and Marketing
Logistics Management
Fundamentals of Accounting Theory and Practice
Fundamentals of Business Analytics
Franchising
Distribution Management
Logic and Critical Thinking
Community Engagement Solidarity and Citizenship
Small Business Management
Real Estate Appraisal and Property Management
Product Management
New Market Development
New Glenn Rocket's First Orbital Flight
Starship Exploration
Cybertruck Technology
Space Exploration 2025
Starbucks: A Global Coffee Giant
The Importance of STEM Education
Supersonic Air Travel
Quantum Computers
Origin of Women in Computing
Igloo Architecture
South Korea's Yoon Presidency
Pantone's 2025 Color of the Year
Huawei Smartphone Innovation
The Freedom Factory: Innovation
The Science of SpaceX Satellites
Investment Strategies: Palantir Generational Stock
Honda CRX History and Legacy
Exploring Space with SpaceX Falcon 9
Revolutionary Wooden Satellite
Elon Musk: Innovator and Visionary
Apple M4 Macs
Boeing: A Century of Aerospace Excellence
Shopee Cashback Voucher
Temu $0 Shipping Fee
Amazon 75% Off Discounts