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BPL 5100 Globus Quiz 1 Answers Part 2 (2024/25) complete solution, A+ work.
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BPL 5100 Globus Quiz 1 Answers Part 2 (2024/25) complete solution, A+ work.
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1. directs the org towards oveall goals/obj2.inlcudes multiple stakeholders in deicison making
what are the attributes of strategic
management? (4)
3.needs to incorporate short and long term perspectives
4.recog trade-offs between effciency and effectiveness
performing simliar acitivies better than rivals
what is opeartional effectiveness
ex: benchmarking, business process reegineering
strategic management can be referred to as T
the study of why some firms outperform
others (T/F)
F
operational effectiveness is doing what everyone else is doing
operationsal effectiveness leads to
sustainable competitve advantages (T/F)
to gain a sustainable competitve advantage, you must be different
different = strategy
strategy is all about being different (T/F) T
strategic analysis
what are the 3 key strategic management
straegic formulation
processess?
strategic implementaion
you have to analyze
1. goals and obj of the firm
strategic analysis (3)
2. external and internal eviornment
3. intellectual assets
1. business level
strategy formulation (3) 2. corporate level
3. international
business level strategy how to compete in a given business and gain a competive advantage
what businesses should we compete in?
corporate level strategy
how can we manage these businesses to acheive synergy?
we have to go beyond our national boundries
international level streategy
so we have to create internatinal strategies
, actually carrying out the plan you made
-org design
strategy implementation (3)
-control and coporate gov
-leadership
use informational control to repond to threats
control and corporate gov
behavioral control uses rewards and incentives
org design must have org structures that are consistent with their strategy
leadership effecrive leadership set the firm's direction
the org decisions are determined through analyses
what is an intended strategy
out plan at the beginning
what is an unrealized strategy? parts of the intended strategy that become unrelized due to unforseen events
org decisoins are determined thorugh analyses and unforseen events
what is a realized strategy
how out plan worked out at the end
emergent strategies using those unforseen outcomes an integrating them into your corporate strategy
what is a stakeholder? any one inside or outside the company that can influence the firm's performance
shareholder approach the firm exists only to maximize profits
stakeholder approach responding to the interests of both stake and share holders
top ---> bottom
1. vision
hierachy of goals
2,. mission statement
3, strategic obj
vision org goal that evokes powerful and compelling images
mission statement encompasses the purpose of the company and basis of compeition
streategic oj used to operationalize the mission statement
Specific (provides clear message on what we need to accomplish)
Measurable,(at least on indicator that measures progress to see if you're actually
fufilling the obj)
Approriate(consistent with vision and mission)
what is SMART
Realistic ( must be achieviable)
Timely (must be a timeframe for completing the obj)
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