Bps Final

Front 1

Phases of Strategic Management

Back 1

1. Environmental Scanning
2. Strategy Formulation
3. Strategy Implementation
4. Evaluation and Control

Front 2

Environmental Scanning

Back 2

External: Opportunities and Threats :Natural Environment, Societal Environment, and Task Environment

Internal: Strength and Weaknesses

Front 3

Four components of Strategy Formulation

Back 3

1. Mission
2. Objectives
3. Strategies
4. Policies

Front 4

3 Components of Strategy Implementation

Back 4

1. Programs
2. Budgets
3. Procedures

Front 5

Corporate Strategy

Back 5

describes a company's overall direction in terms of its general attitude towards growth and the management of its various businesses and product lines.
Three categories:
1. Stability
2. Growth
3. Retrenchment

Front 6

Business Strategy

Back 6

business unit or product level. Emphasizes improvement of the competitive position of a corporations product lines.

Two categories:
1. Competitive
2. Cooperative

Front 7

Functional Strategy

Back 7

taken by a functional area to achieve corporate and business unit objectives and strategies by maximizing resource productivity. Examples are R&D and marketing.

Front 8

8 Steps in strategic decision making process

Back 8

1. Evaluate current performance results
2. Review corporate governance
3. Scan and access the external environment
4. Scan and assess the internal corporate environment
5. Analyze strategic SWOT factors
6. Generate, evaluate, and select best alternative strategy
7. Implement selected strategies
8. Evaluate implemented strategies

Front 9

Role of the Board in Strategic Management

Back 9

1. Monitor
2. Evaluate and Influence
3. Initiate and determine

Front 10

Porters Five Forces

Back 10

1.Threat of New Entrants
2. Rivalry among existing firms
3. threat of substitute product
4. bargaining power of buyers
5. bargaining power of suppliers

Front 11

Types of organizational structures

Back 11

1. Simple structure - Start up
2. Functional Structure - medium sized company with several product lines in one industry.
3. Divisional Structure - functional specialists organized according to product/market distinctions
4. SBU's - modification of div structure. independent product market segments that are given primary responsibility and authority for the management of their own functional areas.
5. Conglomerate Structure - large comp with many product lines in different industries.

Front 12

Balance Scorecard

Back 12

combines financial measures that tell the results of actions already taken with operational measures on customer satisfaction, internal processes, and the corporations innovation and improvement activities

Front 13

Four areas on Balance Scorecard

Back 13

1. Financial
2. Customer
3. Internal business perspective
4. Innovation and learning