Introduction
A company's strategy is a "work in progress" and evolves over time because of. The ongoing need of company managers to react and respond to changingmarket and competitive conditions.
The managerial task of developing a strategic vision for a company Involves deciding upon what strategic course a company should pursue in preparing for the future and why this directional path makes good business sense A "balanced scorecard" that includes both strategic and financial performance targets is a conceptually strong approach for judging a company's overall performance because . Financial performance measures are lagging indicators that reflect the results of past decisions and organizational activities whereas strategic performance measures are leading indicators of a company's future financial performance A balanced scorecard for measuring company performance . Entails creating a set of objectives that is "balanced" in the sense of including both financial and strategic objectives A company achieves sustainable competitive advantage when B. An attractive number of buyers have a lasting preference for its products or services as compared to the offerings of competitors A company exhibits strategic intent when . It relentlessly pursues an ambitious strategic objective, concentrating the full force of its resources and competitive actions on achieving that objective
A company needs financial objectives B. Because adequate profitability and financial strength is critical to effective pursuit of its strategic vision, as well as to its long-term health and ultimate survival—weak earnings and a weak balance sheet alarm shareholders and creditors and put executives' jobs at risk A company needs performance targets or objectives A. For its operations as a whole and also for each of its separate businesses, product lines, functional departments and individual work units
9. A company that pursues and achieves strategic objectives Refer To: 43
The managerial task of developing a strategic vision for a company Involves deciding upon what strategic course a company should pursue in preparing for the future and why this directional path makes good business sense A "balanced scorecard" that includes both strategic and financial performance targets is a conceptually strong approach for judging a company's overall performance because . Financial performance measures are lagging indicators that reflect the results of past decisions and organizational activities whereas strategic performance measures are leading indicators of a company's future financial performance A balanced scorecard for measuring company performance . Entails creating a set of objectives that is "balanced" in the sense of including both financial and strategic objectives A company achieves sustainable competitive advantage when B. An attractive number of buyers have a lasting preference for its products or services as compared to the offerings of competitors A company exhibits strategic intent when . It relentlessly pursues an ambitious strategic objective, concentrating the full force of its resources and competitive actions on achieving that objective
A company needs financial objectives B. Because adequate profitability and financial strength is critical to effective pursuit of its strategic vision, as well as to its long-term health and ultimate survival—weak earnings and a weak balance sheet alarm shareholders and creditors and put executives' jobs at risk A company needs performance targets or objectives A. For its operations as a whole and also for each of its separate businesses, product lines, functional departments and individual work units
9. A company that pursues and achieves strategic objectives Refer To: 43