CBME

• Strategy - involves the courses of action that managers undertake to attain organizational goals.
• Strategy - The art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives.
• objective of strategy - to maximize an organization's strengths and to minimize the strengths of the competitors
• Mission - It talks about TODAY.
• Vision - The company's hopes and dreams it focuses on tomorrow.
• Strategy - pertains to a well-defined roadmap of an organization. It defines the overall mission, vision, and direction of an organization
• Strategy - a general direction set for the company and its various components to achieve a desired state in the future.
• planning stage - most critical factor to a winning strategy.
• planning stage - where you must calculate your strengths and weaknesses against the enemy's strengths and weaknesses
• Strategic management - It includes internal and external environment, strategy formulation, strategy implementation, evaluation, and control.
• Strategic management - is a set of managerial decisions and actions that help determine the long-term performance of an organization.
• Functional strategy - is concerned with developing distinctive competence to provide a business unit with a competitive advantage. Each business unit or company has its own set of departments.
• Business strategy - are composed of competitive and cooperative strategies
• Business Strategy - This strategy emphasizes the act of strengthening the company's competitive position of products or services.
• Corporate Strategy - This strategy entails a clearly defined, long-term vision that organizations set, seeking to create corporate value and motivate the workforce to implement proper actions to achieve customer satisfaction.
• Operating strategy - is formulated in the operating units of an organization. In some companies, managers develop this strategy for each set of annual objectives in the departments or divisions
• Operating Strategy - This strategy is usually created at the field level to achieve immediate objectives.
• Strategic management 


  During this phase, the top management realizes that even the best strategic plans are worthless without the input and commitment of lower-level managers, so they organize planning groups of managers and key employees at many levels, from various departments and workgroups.
• Basic Financial Planning

  • During this phase, managers prepare complex proposals whenever they are requested to provide the following year's budget. Projects are proposed based on shallow analysis, with most information coming from within the firm.
• Forecast Based Planning

  • During this phase, managers attempt to propose five-year budget plans since annual budgets became less useful at stimulating long-term planning. At this point, they consider projects that may take more than a year.
• Externally Oriented Planning

  • During this phase, top management initiates a formal strategic planning system. The company seeks to increase its responsiveness to changing markets and competition by thinking and acting strategically.