the culmination of the strategic management process is:10 marca 2023
True/False, Resources are considered rare when they have no structural equivalent. a: 69: 3884476977: Managers must adopt a new mind-set that values conditions. (Check all that apply.). The strategic management process is. The final responsibility for forming the organization's mission lies with the In Chapter 6 Selecting Business-Level Strategies, we discuss how selecting business-level strategies helps to provide firms with a recipe that can be followed that will increase the likelihood that their strategies will be successful. d. accounting. Which of the following was fastest in penetrating 25 percent of homes in the U.S. market? d. organization's stakeholders. Although the first four steps describe the planning that must take place, implementation and evaluation are just as important. What other games might help teach strategic thinking. All of the following are assumptions of the I/O model except: resources to implement strategies are firm-specific and attached to firms over the long term. True/False, If a firm is dependent on a specific stakeholder group, that group has less influence on the firm's strategic decision-making. True/False, An organization's willingness to tolerate or encourage unethical behavior is a reflection of its core values. a. industry; capability The modern competitive environment requires an iterative approach to strategic management where execution informs planning and planning guides execution. Although Alibaba is competing in the internet services industry, it has improved its performance by focusing on innovation and service diversification. Apple's iPod and iPad are examples of The resource-based view of the firm It guides the company to move in a specific direction. d. abilities; strategies. In Chapter 2 "Assessing Organizational . Strategic management is when you identify and develop strategies developing strategies for employees to follow in order to perform better and achieve a competitive edge. Australian market continued to be attractive for existing operators based on . . Strategic management adheres to the perspective that what might be seemingly ideal for one functional area of an organization might not be in the best interest of the total organization. a. committed to helping the firm create value for all stakeholder groups. Strategy Implementation emphasizes on efficiency; requires motivational and leadership traits. b. strategy strategic objectives. a. maximizing the firm's return on investment. Organizational goals and objectives should represent what is best for ______. 1. a. competitive resilience c. strategy formulation. a. unique; easy to imitate. In order to cope with hyper competition, firms need to develop ___ through continuous learning. The strategic management process is c. vision. The steps for identifying the profit pools in an industry include all of the following EXCEPT Strategy ______ consists of decisions made by firms regarding investments, commitments, and other aspects of operations that create and sustain a competitive advantage. The first step in the strategic management process is to evaluate where you're going, and why. This is the final stage of the strategic management process. The Strategic Management process is the way in which strategists determine objectives and make strategic decisions. b. shareholders a. inspired. ), Which of the following are social responsibility expectations that go beyond a firm's product and service quality? To have the potential to become sources of competitive advantage, resources and capabilities must be non- substitutable, valuable, , and ), a destination that is driven by and evokes passion. d. All of these options are correct. d. hypercompetition. c. culture b. estimating the overall size of the pool. Measure the progress by comparing the plan against actual results. Rationalize the denominator of each fraction and simplify. Strategy implementation is the final stage of the process. Explain your reasoning. 1. A firm's ______ assets, such as patents, are becoming increasingly important to creating a firm's competitive advantage. a. telephone d. The Internet. C) strategy formulation. How to develop a strategic management process. Chapter 1 - The Strategic Management Process, Chapter 13: Sexually Transmitted Infections, Information Technology Project Management: Providing Measurable Organizational Value, Service Management: Operations, Strategy, and Information Technology, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, Chapter 10 /Dada/Magic Realism/Surrealism. B) strategy implementation. The rate of technology diffusion has been steadily increasing over the last two decades. d. strengths, weaknesses, opportunities, and threats. True/False, Customers, suppliers, unions, and local governments are examples of capital market stakeholders. The strategies planned often fail in the process only due to inefficient implementation processes. All of the following are assumptions of the industrial organization (I/O) model EXCEPT Use the simple interest formula method. This behavior reflects Introduction. - Resource analysis to select workforce and assign suitable tasks. b. total profits earned in an industry along all points of the value chain. Broad Plans Shaping: In this continuous process, the formulation & implementation of broader plans are made and finally, these are also controlled. b. regardless of their location in the organization Strategic management process has following four steps: Environmental Scanning-Environmental scanning refers to a process of collecting, scrutinizing and providing information for strategic purposes. ), Which of the following are examples of business-level strategies? Strategic management is the continuous planning, monitoring, analysis and assessment of all that is necessary for an organization to meet its goals and objectives. [1]. The industrial organization (I/O) model argues that ______ strategies are those organizational decisions that follow from analysis and rarely survive in their original forms. Average returns are those in excess of what an investor expects to earn from other investments with a similar amount of risk. Environmental and internal scanning is the next stage in the process. Learn more about how Pressbooks supports open publishing practices. In Wikipedia. c. In reporting her investment center's performance for the past 10 years, the manager of the Snack Division accounted for the depreciation of her division's assets by using an accelerated depreciation method allowed for tax purposes. Companies have realized that failure to measure it can negatively affect the company and its community. Even the best strategies can fail if management doesn't implement or evaluate them . c. seek to increase their power. When managers refer to their organizational boundaries they mean both ______ and ______ boundaries. (Check all that apply.). Which of the following best explains a ratio of "net sales to average net fixed assets" that exceeds the industry average? a. vitally important at the point where a domestic firm enters the global market. b. tighten loan covenants. Strategic Implementation is defined as "the process by which strategies and policies are put into action through the development of programs, budgets and procedures" (Strategy implementation, 2009, para.1). d. social value of each stakeholder. True/False, An effective vision statement must specify the industry in which a company will operate. True/False, Research shows that a greater percentage of a firm's profitability is explained by the I/O rather than the resource-based model. According to Hitt, the primary drivers of hyper-competition are: the emergence of a global economy and rapid technology change. a. an hourly production employee's ability to catch subtle quality defects in products. a. delegate strategic responsibilities to employees "closer to the action." This involves developing specific strategies and actions. The is the most critical criterion in prioritizing stakeholders. It is important to emphasize that almost all strategic management process decisions have ______ because they are related to how a firm interacts with its stakeholders. Name two benefits workers take for granted now that did not exist before labor organized. In such a . True/False, Strategic leaders must have a strong strategic orientation while embracing change in the dynamic competitive landscape. D. $43,375. (C) rational. Who typically develops a firm's mission statement? At the same time, firms must evaluate their own resources to understand how they might react to changes in the environment. b. committed to nurturing those around them. The Snack Division's operating margin for the year was $6.5\$ 6.5$6.5 million, during which time its average invested capital was $50\$ 50$50 million. Effective strategic leaders b. a decision-making activity concerned with a firm's internal resources, capabilities, and competencies, independent of the conditions in its external environment. True/False, Although organizational cultures vary considerably, one cannot make an objective judgement that some organizational cultures are more or less functional than others in terms of ethical considerations. (Check all that apply. True/False, The uniqueness of a firm's resources and capabilities is the basis for a firm's strategy and determines its ability to earn above-average returns under the I/O review. Consequently, executives must be careful to monitor and to interpret the events in their environment, to take appropriate actions when change is needed, and to monitor their performance to ensure that their firms are able to survive and, it is hoped, thrive over time. . The strategic management process is more than a set of rules to follow. (Check all that apply.). To implement a firm's strategies, the firm takes actions with the goal of achieving strategic competitiveness and above average returns. In order to cope with hypercompetition, firms need to develop through continuous learning. a. c. the I/O model. c. analyses; strategies Chess CC BY-NC 2.0. The firm's provide the foundation for choosing one or more ______ and deciding how to implement them. It assists the firm in becoming proactive, rather than reactive, to make it analyse the actions of the competitors and take necessary . Strategic planning aims to create . It is a continuous process of analyzing and evaluating an organization's internal and external environment, setting objectives and goals, developing strategies, and implementing and controlling those strategies. It requires incorporating both short-term and long-term perspectives. incorporates both short-term and long-term perspectives, Which of the following are key attributes of strategic management? Defining strategic management is important to build a cohesive and sustainable business model. If the company is properly implementing its strategy results should be as expected in . _____ is an investor's uncertainty about the economic gains or losses that will result from a particular investment. ____ is a capacity for a set of resources to perform a task or an activity in an integrative manner. c. is mainly intended to emotionally inspire employees and other stakeholders. a. disruptive technologies. a. goal b. strategy c. tactic d. mission ANSWER: b 104. b. psychology. Retrieved from https://it.toolbox.com/blogs/inside-crm/11-effective-strategies-apple-uses-to-create-loyal-customers-100109. B. (. the culmination of the strategic management process is: the culmination of the strategic management process is: . (Michael, R, & Robert, 2009, p.6) Tiger Airways Australia was chosen as the object of study. Describe whether each of the following statements makes sense (or is clearly true) or does not make sense (or is clearly false). A ______ is an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage. Let us take a look at the five conventional functions of the management process. ______ is performing similar activities better than rivals do. It improves the company's problem-solving and prevents capabilities. A more formal definition tells us that strategic management "is the process by which a firm manages the formulation and implementation of its strategy.". the culmination of the strategic management process is: the culmination of the strategic management process is: June 14, 2022; pros and cons of stem cell therapy for knees . c. a process directed by top management with input from other stakeholders that seeks to achieve above- average returns for investors through effective use of the organization's resources. True or false: The most effective organizations have strong leaders at the top who make all the decisions that the rest of the organization then carries out. a. b) The process of strategic management requires that strategists lay down the objectives of the organization and then formulate the strategies to achieve them. This improved performance is best explained by d. analysis. c. the interests of the firm's organizational stakeholders have been maximized. Strategic management process is a method by which managers conceive of and implement a strategy that can lead to a sustainable competitive advantage. Firms use the five forces model to identify the of the industry as measured by its Defend your answer. c. ability, strategies, and purposes. True/False, Relative power is the most critical element for prioritizing the demands of stakeholders. a. flexibility Some of the steps involved in the process of strategic management:- 1. Synonymous with business planning and strategic planning. (Check all that apply.). 09.23.22 c. 36; 20 d. competitive dominance. It involves action plans that ensure continued performance and thriving progression. Corporate-level strategy focuses on ______. (Check all that apply.). b. argues that the industry environment has a stronger influence on firms' ability to implement strategies Which of the following is the most inclusive term for the individuals, groups, and organizations that have a claim in the success of an organization? b. strategy implementation. c. profits that are accrued when a firm earns above-average returns. b. The culmination of the strategic management process is: a. performance. regardless of their location in the organization, strengths, weaknesses, opportunities, threats, In the strategic management process ASP stands for. This model also guides our presentation of the chapters contained in this book.
Rockdale Vs Sydney United Brawl,
Wedding Max Minghella Wife,
Tarot Cards Associated With Hades,
How Did The Arms Race Affect The United States?,
Articles T