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Strategy formulation and implementation, c. Strategy implementation and evaluation, d. Strategy formulation, implementation and evaluation, 93. Resources, capabilities, core competencies, b. Other functional strategies such as marketing strategy, advertising strategy, and financial strategies are also to be formulated appropriately to support the business-level competitive strategy. c. Needed mainly when organizational performance falls. The top level deals with strategy, the middle level with tactical issues and the bottom level with operational issues. KAPKAL Power’s interested to achieve a 10 percent return on equity (ROE) in their core electric utility, 14 percent ROE on water resource operations, and 15 percent ROE on support businesses. Examples of the competitive strategies include differentiation strategy, low-cost strategy, and focus or market-niche strategy. Which of the following is NOT a major element of the strategic management process? 1-2 years B. The management decisions are classified into three levels or categories: Strategic planning involves deciding and developing strategic plans to achieve strategic objectives (or goals). The strategic operations planning decisions include: 1. These decisions are based on facts regarding the events and do not require much of business judge­ment. 3. Core competencies are thus valuable competitive assets. But strategic decisions, such as entering a new market or acquiring another company, are completely different. Strategy formulation, Environmental scanning, Implementation, control and evaluation, c. Environmental scanning, Strategy Implementation, formulation, control and evaluation, d. Strategy formulation, Implementation, control, evaluation, Environmental scanning, 71. In a turbulent and competitive free enterprise environment, a firm will succeed only if it. What contemporary organizations and managers need is a process that: Business organizations are now facing great challenges due to uncertainty in the business environment. Content Filtration 6. Starting and finish times of each job in each of the workstation or machines or facilities. Problems handled/ decisions made. If formulation was talking about things within the realm of the possible, implementation is pushing plans to the realm of attainable. 26. b. Strategic-management audit is known as: 76. attention. The level of management determines a chain of command, the amount of authority & status enjoyed by any managerial position. Change in one affects the other and vice versa. b. response of incumbent firms to new entrants. Functional strategies are adopted to support a competitive strategy. 7. TOS 7. The vision and mission statement can often be found. Prohibited Content 3. Organization-wide learning is initiated if the organization is adapting to global-level changes. 19. What can be defined as the art and science of formulating, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives? All these threatening changes cause several internal problems for an organization. How is it going to conduct itself to achieve this strategic position. These are then used to draw up functional plans, programs, and budgets. Managers must inform the employees of how ethical standards apply in various areas in which employees are working. Strategic planning involves deciding and developing strategic plans to achieve strategic objectives (or goals). No or very less uncertainty in these plans and information needed is internal. Decisions on regular issues. Strategic issues require which level of management decisions? It gives direction to growth and development of business. Their job is to track progress, spot problems and issues clearly, monitor the winds of market and customer change and initiate adjustments as needed. Who are our employees? 3. Ans. It helps improve the political, economic, social and technological environment of the organisation, c. It helps orientate management decisions to relevant environmental conditions, d. It helps organisations be proactive rather than reactive. Type of information required. (Answered by corporate strategy). Which one of the following is NOT included in the Porter’s Five Forces model: a. 99. (p. 4) Strategic issues require which level of management decisions? The strategies at each level of the organization are known by the name of the level: In a single-business enterprise, three-level strategies are formulated: Corporate strategy is formulated at the top level of a diversified company (in our country, a diversified company is popularly known as ‘group of companies’ or ‘group of industries.’. Privacy Policy 9. A company may develop an operating strategy for its sales territories. Creating a more proactive management posture. The history of the evolution of strategic management can be traced back to 400 BC when the term ‘strategia’ was used in the Greek army to imply science, art, and quality of being efficient army general. However, unlike most other resources that have to be procured from the outside environment, most information resource is available within the organization if an effort has been made for its safekeeping. Top. Resource allocations are not tight budget limitations but also prone to change. Plans are definite, and action oriented. The environment in which Henry Ford set up the automobile empire demanded less from the manufacturer in terms of differentiation and regulatory compliance. Each business unit or company has its own set of departments, and every department has a functional strategy.

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