Chapter 8 Strategic Management The Importance of Strategic Management 1. __________________ is the collection of managerial decisions and actions that determine the long-run performance of an organization. a. Planning b. Goal-oriented management c. Strategic management d. Leadership (c) 2. Studies of the factors that contribute to organizational performance have shown _____________ relationship between strategic planning and performance. a. no b. a mixed c. a negative d. a positive
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Strategic Marketing Management Sample Exam Questions Question 1: a. Is the PLC (Product life cycle) concept useful in developing Marketing strategies? Describe why or why not? What are the limitations of the PLC concept? A strategy is a fundamental pattern of present and planned objectives‚ resource deployments‚ and interactions of an organisation with markets‚ competitors and other environmental factors. b. What are the advantages available to Google with their Google
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Strategic Management Nokia Contents 1. Mission 2. Analysis of stakeholder 3. Identification of existing strategies 4. Internal audit A. Resources B. Competences C. Corporate culture D. Value chain E. Summary of what delivers competitive advantage F. Summary of Key strengths and weaknesses 5. External audit A. Remote Environment B. Operating environment C. Boston Matrix D. Summary of Key opportunities and threats 6. Identify strategic option 7
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change the business makeup? 3. How are we going to get there? This is the most important one because it is about which competitive moves and business approaches to use as a strategy. Q1. Managers in all types of businesses must address the central strategic question? A. Where are we now? B. Where do we want to go from here? C. How are we going to get there? D. When will we know we are there? E. All of these What Does Strategy Mean? It is all about how: 1- Attract and please
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Strategic Management Definition 1. “Strategic management can be defined as the art and science of formulating‚ implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives.” David‚ F.R. (2009). 2. “An integrative management field that combines analysis‚ formulation‚ and implementation in the quest for competitive advantage.” Rothaermel‚ F. T. (2012) 3. “Strategic management includes understanding the strategic position of an organisation‚ making
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2012104045 PROJECT METHODOLOGY I. Summary Project methodology is a project or study that could help manage the works of people and develop the creativity and imagination of the children. It is like a list of step by step process in every work‚ consisting of designs and plans that could help in making the project or work executable or manageable. Every details of the project are listed starting from the beginning up to until the end of the project. II. Opinion In my opinion‚ having a project methodology
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Pinteroffice memorandum to: | tANIA pARKER | from: | MOHAMMED ZOAHEB | subject: | ms project part 2 | date: | June 14‚ 2013 | cc: | [Name] | | | 1. Which if any of the resources are over allocated? * Marketing staff * R&D * Legal staff 2. Assume that the project is time constrained and try to resolve any over allocation problems by leveling within slack. What happens? The Marketing staff and legal staff over allocated problem is solved‚ however R&D cannot
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Project ManagementTop Down/Bottom Up methods Consensus methods Snr/middle managers’ guess total project time & cost Discussing/arguing to reach a decision on best guestimates Firms seeking greater precision: Delphi Method: Group decision process of chance of certain events occurring Exp. familiar with project use insight/exp. guessing project costs/times Ratio methods Macro methods use ratios to guess time & cost E.g. contractors using no. of sq. ft. to guess cost/time to build
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NOTE EVALUATING STRATEGIC MANAGEMENT The strategic management process result in decision that can have significant‚ long lasting consequences. In many organizations‚ strategy evaluation is simply an appraisal of how well an organization has performed. Strategy evaluation includes three basic activities: 1. Examining the underlying bases of firm strategy 2. Comparing expected result with actual result 3. Taking corrective action to ensure that performance conform to plan. Strategy
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be major or minor. They may be strategic‚ tactical or operational in nature. Major dimensions of strategic decisions The major dimensions of strategic decisions are as follows: 1. Strategic issues require top-management decisions: Strategic issues involve thinking in totality of the organization’s objectives in which a considerable amount of risk is involved. Hence‚ problems calling for strategic decisions require to be considered by the top management. 2. Strategic issues involve the allocation of
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