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Organizational Goals
Organizational Planning
Strategic Management
SWOT Analysis
Business Level Strategies
100
A statement of an organization's fundamental purpose
What is mission
100
Focuses on carrying out tactical plans to achieve operational goals.
What is operational plan
100
When applied to strategy, it specifies the range of markets in which an organization will compete.
What is scope
100
An organizational strength possessed by only a small number of competing firms.
What is distinctive competence
100
A strategy in which an organization concentrates on a specific regional market, product line, or group of buyers.
What is focus strategy
200
A goal set by and for an organization's top management
What is strategic goal
200
Aimed at achieving tactical goals, is developed to implement specific parts of a strategic plan.
What is tactical plans
200
How an organization distributes its money, people, and time across the areas in which it competes
What is resource deployment
200
Skills and capabilities that enable an organization to create and implement its strategies.
What is strengths
200
A strategy in which an organization seeks to distinguish itself from competitors through the quality of its products or services
What is differentiation strategy
300
Provides guidance and a unified direction for people in the organization. Promotes good planning. Is a source of motivation and evaluation and control
What is the purpose of organizational goals
300
Plans flow from and must be consistent with tactical plans.
What is operational
300
A comprehensive and ongoing management process aimed at formulating and implementing effective strategies; a way of approaching business opportunities and challenges.
What is strategic management
300
An area in the environment that, if exploited, may generate higher performance.
What is opportunity
300
A model that portrays how sales volume for products changes over the life of products.
What is product life cycle
400
The type of plan that involves upper and middle management and, compared with strategic plans have a somewhat shorter time horizon and a more specific and concrete focus.
What is a tactical plan
400
The planning flow in organizations and the positions responsible for each plan
What is Strategic plans (upper-management) Tactical plans (middle-management) Operational plans (lower-level-management)
400
A strategy helps the organization focus on its operations simultaneously across several industries and several markets.
What is corporate level
400
A skill or capability that does not enable an organization to choose and implement strategies that support its mission.
What is weakness
400
A strategy in which an organization operates multiple businesses that are not logically associated with one another
What is unrelated diversification
500
Managers who use goals to assess their subordinates' performance are using goals to help them fulfill the basic managerial function of?
What is control
500
Describe all that is applied to the environmental context and why is it important for organizations to utilize this process.
What is The Organization's Mission Purpose, premises, values, directions Strategic goals - Strategic plans Tactical goals - Tactical plans Operational goals - Operational plans
500
Which strategy – business-level or corporate-level strategy should a firm develop first? Describe the relationship between a firm’s business- and corporate-level strategies.
What is Both must be developed together, at the same time. Decisions made at the corporate level, such as to increase or decrease diversification, will then require changes in the firm’s business-level strategy. Decisions made at the business level, for example to pursue a differentiation strategy, will require changes at the corporate-level also. Most firms that are being just founded have only a single business and in those firms, the business-level strategy will be developed first. However, for a diversified firm, corporate and business strategies are formulated and implemented simultaneously.
500
Describe SWOT analysis which is formulated to support the mission of the organization and "good" strategies.
What is (Internal Analysis) Strengths (distinctive competencies) Weaknesses (External Analysis) Opportunities Threats "Good" Strategies -exploit opportunities and strengths -neutralize threats -avoid weaknesses
500
Identify and describe Porter’s generic strategies.
What is (1) differentiation: a firm seeks to distinguish itself from competitors through the quality of its products or services; (2) overall cost leadership: a firm attempts to gain a competitive advantage by reducing its costs below the costs of competing firms; and (3) focus: a firm concentrates on a specific market, product line, or group of buyers.