Individuals derive power because they are involved in the discretion process of the company by the very nature of their jobs.
The building of a channel includes having one or more partners involved in a business and selling the product as a collaborative entity. Yet this may not be such a contradiction if the distinction between strategic and operational decentralization is remembered.
Organizational responses involve ensuing that the structure of the organization is such that it can sense efficiently what is going on in the environment and be flexible enough to respond to such changes.
This help to identify the extent to which intended strategy builds on what exists or demands new resources, identify how extensive the new resource requirements are, think through the implications of obtaining few or many new resources, and identify change in resource leads to which the resource mix that exist is adequate for the future.
This approach has both advantages and disadvantages. Building a channel is a great way to allow the customers to have trust on you and your services that is being provided with the product.
In such cases, contingency planning is required; that is, we should prepare a plan for each eventuality so that we can quickly exploit the opportunities that are presented when the future makes up its mind. B- Explain the method used for the selection of strategic options.
Question A- Discuss the concepts of centralization and decentralization and how their relationship to strategic implementation.
In the term of decentralization, there is much evidence to show that technology influence the ways in which decisions are taken and the levels at which they are taken. This source of power becomes most important when the environment is hostile or unpredictable.
To compete with the best companies around the brand strategy need to be strong and it should have very close prospective customers. The likelihood is that some will be adequate and some will become redundant. Standardized production systems result in formalized and centralized control is really true only within the production side of the company; other departments and the company as a whole may not be organized in the same way.
Some of the questions that will help identify the likely consequences of any strategy are: The name of strategic planning game is to translate strategy into current decisions. It represents development beyond the present product and market but still within which the company operates.
A spirit of creativity and initiative in the managerial personnel. Strategic changes take place over a fairly long period of time and can make difference to the way in which an organization operates.
Give examples About the Solutions The entire exam solution is reproduced below. Three questions can be used to identify the resource issues that have to be dealt with in implementing strategy. Fit with Existing Resources: There are number a number of different measures of effectiveness: This phenomenon is usually known as the experience curve.
Both ETOP and SAP are considered together as a diagnostic tool to understand and draft the future business conditions under most probable and worst- case assumptions relating to the external threats and opportunities on certain factors. Clients executing their plans with OnStrategy: Comprehensive strategic planning may be defined as a structure of plans—a structure that integrates strategic issues with short-range operational plans and into which are integrated, at all levels, major objectives, strategies, policies process, procedures, structures or techniques and functions for a firm.
An awareness about the external environmental variables particularly the areas of risk and uncertainty, and opportunities and threats.
Senior management know what is going on in all parts of the organization if decision-making is routed through them so there is less need for complex control system.
The Committee is responsible for developing and implementing policies, procedures, and controls throughout an organization. No organization can exist without interact with the external environment, so external environment is very important. Equally, it may require new relationships to be made with people outside the company.
Government offers opportunities in the following areas examples only: There are different types of joint development:. Set up annual strategic review dates including new assessments and a large group meeting for an annual plan review. Now you’re ready to start plan roll-out. Below are sample implementation schedules, which double for a full strategic management process timeline.
Questions for Strategic Management (Tackling the Exam) Last 1st term lesson – 27th Jan. Dr David Ward. 2 •Choose questions that have some link, in this way it is easier four forms of participation strategies, starting from multi-domestic strategy.
What style of. Review questions – Exam 2 Management Strategy & Policy Chapter 6 1. Managerial Actions and initiatives taken in the strategy execution proce1 – pss * Human capital: intangible assets such as skills, knowledge, and value required by the strategy. Jan 01, · Strategic Management Exam Questions.
The Essay portion of the exam on strategic management consisted of three questions which required short answers ( words each). No customer has left a review for these solutions. Be the first one to purchase them and leave a review for others/5(2). 3.
Is my organization consistent with my strategy? InAl West, the founder and CEO of SEI – the wealth management company that, at the time, was worth $ million – found himself in a.
Strategic Management Questions and Answers has strategic management MCQ on strategy formulation, vision statement, Porter analysis, capacity utilization, JIT, core competence, Strategic surveillance, Crisis, attack strategy and PESTLE analysis.
Attempted questions are shaded in Blue; Click ‘Review Question’ to highlight .Management strategy and policy review questions