SRAT MA 1.1
Cards (34)
- is a set of managerial decisions and actions that determines the long-run performance of a corporation.
- It includes environmental scanning (both external and internal), strategy formulation (strategic or long-range planning), strategy implementation, and evaluation and control.
- emphasizes the monitoring and evaluating of external opportunities and threats in light of a corporation’s strengths and weaknesses.
- What does strategic management originally called?
- strategic management incorporates such topics as?
- PHASES OF STRATEGIC MANAGEMENT
- initiate serious planning when they are requested to propose the following year’s budget? phase?
- Projects are proposed based on very little analysis, with most information coming from within the firm?
- ____ usually provides a small amount of environmental information? phases?
- As annual budgets become less useful at stimulating long-term planning, managers attempt to propose ______ plans.
- At this point, they consider projects that may take more than one year.
- In addition to internal information, managers gather any available environmental data—usually on an ______ and extrapolate current trends five years into the future.
- The company seeks to increase its responsiveness to changing markets and competition by thinking strategically.
- _______ is taken out of the hands of lower-level managers and concentrated in a planning staff whose task is to develop strategic plans for the corporation.
- _______ often provide the sophisticated and innovative techniques that the planning staff uses to gather information and forecast future trends.
- Realizing that even the best strategic plans are worthless without the input and commitment of _______, top management forms planning groups of managers and key employees at many levels, from various departments and workgroups.
- They develop and integrate a series of strategic plans aimed at achieving the company’s primary _____.
- Strategic management emphasizes _____ performance
- Many companies can manage long-term bursts of high performance, but only a few can sustain it over a shorter period of time. T OR F
- To be successful in the long-run, companies must not only be able to _____ current activities to satisfy an existing market, but they must also ______ those activities to satisfy new and changing markets
- strategic management need to always be a formal process.T OR F
- the integrated internationalization of markets and corporations, has changed the way modern corporations do business
- As more industries become global, strategic management is becoming an increasingly important way to keep track of international developments and position a company for long-term competitive advantage.
- According to ______, a Wharton professor, “Whatever China develops is rolled out to the rest of the world. China may have a lower GDP per capita than developed countries, but the Chinese have a strong sense of how products should be designed for their market.”
- A set of decisions and actions resulting to formulate and implement strategies design to achieve the objectives of an organizations
- Set of managerial decisions and actions that determines the long-run performance of a corporation.
- Management of a firm’s resources to successfully achieve its goals and objectives.
- An action plan to ensure performance targets are met and the business continues to grow.
- Provides overall direction by developing the plans and policies designed to achieve objectives and then allocating resources to implement the plan.
- The scope or spheres within which the decision can taken by the subordinates in the organization.
- Study of the roles and responsibilities of top - level management, the significant issues affecting the organizational success and the decisions affecting organization in the long run.
- is the process of expanding operations to other countries.
- A company that globalizes its products or services is said to be pursuing a _________
- The integration and internationalization of markets and corporations.