the culmination of the strategic management process is:kelly services substitute teacher pay orange county

It involves assessing the external environment, developing a strategic plan, executing it, measuring its success, and tweaking it as necessary. (Remember to type only one word in the blank.). c. strategy . SWOT stands for b. local dimensions. d. The Internet. 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. How do you think the economic growth of developing countries will affect you and your family in the future? Planning in management is a process of choosing apt goals and actions to pursue, and then determining what strategies to use, what steps to take, and what resources are needed to achieve the goals. b. determining how each functional department of the firm will operate. A vision Synthesizing the information gained in the external and internal analysis into a SWOT framework is addressed in Chapter 5. It involves identifying internal and external factors and understanding how they affect an organization. Study with Quizlet and memorize flashcards containing terms like Strategic competitiveness is achieved when a firm successfully formulates and implements a value-creating strategy. A Deeper Dive into the Strategic Management Process. d. the CEO, COO, and CFO only. d. products that were not imitated by competitors. a. the power of the financial market stakeholders. coordinating and integrating activities within the firm and with suppliers and customers, Strategy implementation involves ______. 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. To implement a strong strategy effectively, an experienced . b. b. total profits earned in an industry along all points of the value chain. d. the internal structure of the organization must match the industry in which it competes in order to earn above-average returns on investment. c. in the finance area a. the social energy that drives, or fails to drive, the organization. b. mission. c. strength, wealth, organization, and taxes. c. the firm's actions to exploit its competitive advantage over rivals. True/False, Developed countries still have major advantages in their access to information technology when compared to emerging countries because of the significant cost of the infrastructure needed for computing power. 98.:A business-level strategy describes (A) the businesses in which the company intends to compete. In the resource-based model, which of the following factors would be considered a key to organizational success? is a capacity for a set of resources to perform a task or an activity in an integrative manner. d. organization's stakeholders. b. psychology. It had net income of$8,000 and paid out cash dividends of $5,625 in the current period. A firm's mission It is important because it helps the business to make decisions unbiasedly and react to changes rapidly. It aims to be a preeminent centre of excellence, generating and imparting knowledge in . Firms use both the ______ and ______ models. conduct a thorough analysis of the external and internal environments, Strategies often fail when managers fail to do which of the following? c. Sustainable competitive advantage As a result, virtually all of the assets under her control are fully depreciated. It improves the company's problem-solving and prevents capabilities. Pearce and Robinson, 1988. The strategies planned often fail in the process only due to inefficient implementation processes. The is the most critical criterion in prioritizing stakeholders. All businesses can benefit from strategic management to help them meet long-term objectives. c. disruptive technologies. True/False, The I/O (industrial organization) model assumes that the uniqueness of a firm's resources and capabilities is the main source of above-average returns. The number of different businesses that an organization is engaged in and the extent to which these businesses are related to one another. d. All of these options are correct. In a diversified firm, corporate-level strategy is concerned with: determining in which businesses to compete and how resources will be allocated between businesses. True/False, An organization's willingness to tolerate or encourage unethical behavior is a reflection of its core values. - Resource analysis to select workforce and assign suitable tasks. . a: 69: 3884476977: Managers must adopt a new mind-set that values conditions. A firm's ______ assets, such as patents, are becoming increasingly important to creating a firm's competitive advantage. You can view this video here: https://youtu.be/o0U0gwvnhek. b. oil drilling rights in a promising region. The mission of IIM Lucknow is to improve management systems with regard to business, industry and public services through pursuit of excellence in management education, research, consultancy and training. Strategic leaders, ______, often work long hours, and their work is filled with ambiguous decision situations. b. a decision-making activity concerned with a firm's internal resources, capabilities, and competencies, independent of the conditions in its external environment. In fact, these models complement each other in that one focuses outside the firm while the other focuses inside the firm. Which of the following state the goals and intentions that help define a firm's competitive advantage? c. defining the competitors in the pool. c. A mission (Check all that apply.). Certainly, part of Apples success is due to the unique products it offers the market, as well as how these products complement one another. shareholders, management, and the board of directors. True/False, Examples of incremental innovations include iPods, PDAs, WiFi, and web browser software. Strategic management requires that ______. c. the interests of the firm's organizational stakeholders have been maximized. b. an important source of competitive advantage in virtually all industries. Reflects what a firm is doing to achieve its mission and vision as seen by its achievement of specific goals & objectives. A core competence Measure the progress by comparing the plan against actual results. The strategic leader's work is characterized by: ambiguous decision situations where the best course of action is not always easy to identify. All of the following are resources of an organization except: All of the following are assumptions of the resource-based model except: capabilities are highly mobile across firms. Research shows that approximately___percent of a firm's profitability is explained by the industry in which it competes, whereas Although the first four steps describe the planning that must take place, implementation and evaluation are just as important. a. goal A ______ is an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage. Reward c. Risk d. Revenue ANSWER: c 105. d. unions, Organizational stakeholders are usually satisfied when c. the key to competitive success is the structure of the industry in which the firm competes. a. unique; easy to imitate. the process of formulating and implementing strategies to accomplish long-term goals and sustain competitive advantage Strategy formulation. A firm has achieved ______ when it successfully formulates and implements a value-creating strategy. The strategic management process is Income statement information for Thain Corporation is provided below. d. one business-level strategy and one corporate-level strategy. is a statement of a firm's business in which it intends to compete and the customers it intends to serve. Strategic competitiveness is achieved when a firm successfully formulates and implements a value-creating strategy. A strategic management process is an essential tool for any organization looking to optimize performance and reach success. .It is well known that the elected school board of a large city engages in unethical and illegal activities involving the awarding of major contracts. This activity is important because proper use of strategic management techniques . The Princeton Alliance Church states in its website that "PAC exists to help you live life to the fullest by knowing God, developing community and bringing hope." Given that the company's other division managers use straight-line depreciation, is her use of an accelerated method ethical? Refer to the Terms to Know in the Summary & Study Guide on page 551. a method in which farmers move every one to three years to find better soil. b. focus on strategy formation. a. major suppliers of capital The culmination of the strategic management process is: Managers must adopt a new mind-set that values ______ and the challenges that evolve from constantly changing conditions. d. All of these options are correct., A firm has achieved when it successfully formulates and implements a value-creating strategy. c. 36; 20 By following this process, organizations can ensure their plans are aligned . 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. d. 20; 36. True/False, The rapid rate of technological diffusion has increased the competitive benefits of patents. b. argues that the industry environment has a stronger influence on firms' ability to implement strategies Successful strategic leaders are Definition. This behavior reflects c. the CEO and top managers ______ is an investor's uncertainty about the economic gains or losses that will result from a particular investment. b. a. organizational decision makers are rational and committed to acting in the firm's best interests. b. expertise. - Evaluating efficiency and effectiveness . ______ innovation is a term used to describe how rapidly and consistently new, information-intensive technologies replace older ones. The situation is where relevant information is needed to create the organization's culture, mission, or vision statement. b. the resource-based model. The ______ view of stakeholder management views the management process as groups competing for the organization's resources. c. determine whether an industry will be viable in the long term. Why is it important to view strategic management as a process? c. the CEO, COO, and CFO only. True/False. a. ambiguous decision situations which make effective decisions difficult to determine. c. the profitability of the industry in which the firm competes. c. tactic Strategic Management. Strategic management is the set of decisions and actions resulting in the formulation and implementation of plans designed to achieve a company's objectives. a. located only at the executive level. In the instance, the implementation . True/False, The CEO must encourage ambidextrous learning, absorbing new information, and building incremental knowledge in order to make the firm strategically flexible. Figure 1.7: Kindred Grey (2020). Strategic management is a process of formulating, implementing and evaluating cross-functional decisions that enable an organisation to . 97.A major assumption about the strategic management process is that it is: (A) inspired. It helps in analyzing the internal and external factors influencing an organization. C) strategy formulation. Generally speaking, product market stakeholders are satisfied when determines how organization as a whole supports and enhances the value of the business units w/in it. the key factor in success is choosing the correct industry in which to compete.

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