CBMEC EXAM

• Fundamental Feature of a New Economy. Occurs when product/ service offerings and technologies are so new that standards become unstable and competitive advantage is no sustainable

  Hyper Competition
• Continuous process of strategy creation. It is the management of an organization’s resources to achieve its goals and objectives.

  Strategic Management
• Consists of a systematic evaluation of variables currently existing in the external and internal environments.

  Strategic Analysis
• Designing strategies on the business and corporate level

  Strategy Formulation
• Employing these crafted strategies to achieve organizational set goals and objectives.


  Strategy Implementation
• The application of an appropriate monitoring and feedback system.

  Strategic Control
• Deliberately bringing together the right resources for the right markets at the right time.

  Strategic Decision-Making
• It is a continuous, repetitive and competitive process of setting the goals and objectives that an organization aims to attain.

  Strategic Planning
• Prepared in the context of the coming three to five, ten or more years. It describes the major factors or forces that affect the organization’s long-term objectives, strategies and resources required.

  Medium/ Long Range Plan
• Short-term; succinctly describes the organization’s present situation, its goals and objectives, strategies, monitoring mechanisms and the budget for the year ahead

  Annual/Yearly Plan
• These are characterized by the occurrence of phenomenal situations, continuous challenges and triggering forces that provoke corresponding reactions.

  The Reality of Dynamism
• Defines the current purpose of an organization; it answers what the organization dies, for whom it is done, and how it dies, what it does.

  Strategic Mission
• An inspiration statement of what the organization hopes to achieve at some point in the future. It is the image of what an organization desires to achieve.

  Strategic Vision
• Set in order to make the mission statement in operation. They are pursued to make specific strategies succeed. They vary and are essentially dependent on their respective purpose and direction.

  Organizational Goals
• Inherent roots of motivation within an individual, an organization, a community or a nation. They are by nature, ingrained and are more stable and enduring.

  Values
• Characteristically broader in scope, aside from values, it includes other variables such as the organization’s dreams, interests, expectations, philosophies, as well as leadership and management style and ethical practice.


  Value System
• Desired share of the current and new market.

  Market Standing
• Development of new goods, services and of skills and methods.

  Innovation
• Selection and development of employees.

  Human Resources
• Identification of sources of capital and their uses.

  Financial Resource
• Equipment and facilities, and their uses.

  Physical Resource
• Efficient use of the resources relative to output

  Productivity
• Awareness and responsiveness to the effects on the community and stakeholders.

  Social Responsibility
• Achievement of measurable financial well-being and growth.

  Profit Requirements
• Denotes a wide range of social phenomena, including language, behavior, beliefs, values, status symbol and authority.

  Organizational Culture
• It refers to the expertise, insight and wisdom possessed by an entity.


  Organizational Intelligence
• It is the study and interpretation of the forces existing in the external and internal environments.

  Environmental Scanning
• It consists of the facts and data used by organizations to assist them in achieving their vision, mission and goals.

  Strategic Information
• It is gathered through personal experience, observation and experimentation.

  Primary Data
• It is gathered from reports, internet sources and other published materials.


  Secondary Data
• The individual is exposed to information with no specific informational need in mind.

  Undirected Viewing
• The individual directs viewing of information to specified facts and data to be able to assess their general impact on the organization.

  Conditioned Viewing
• The individual actively looks for information to increase knowledge of a particular issue.

  Informal Search
• The effort exerted by the individual is deliberate and planned. The search is both focused and structured and the research methodology is clearly enumerated and followed.

  Formal Search
• It is a structured assessment tool used to evaluate an organization, industry, a place or even a person in terms of set parameters like strength, weakness, opportunities and threats.

  SWOT MATRIX ANALYSIS
• Features of organizations, thus, giving it significant advantage over others.

  Strengths
• Characteristics that place organizations at a disadvantage relative to others, and may just be limitations or vulnerabilities of organizations.

  Weaknesses
• Possibilities in the external environment that organizations can exploit to their advantage.

  Opportunities
• Challenges in the external environment that can cause problems to organizations

  Threats
• This presents varying forces that influence organizational direction and strategic decision-making.

  The External Environment