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7 Cards in this Set
- Front
- Back
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What are the unique considerations of sports? |
-Sports unlike most industries are intertwined with almost every other business- -Each business entity requires an understanding of how they are managed- Who works with who and how they work together -Focus on developing a business strategy and the principles of implementing a strategy with other partners |
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What are the different levels of strategy and what do they oversee? |
Corporate Level- Entire Organization (Overall strategic planning for the entire organization) Business Level- Different Departments (Individualized strategic planning for individual products or services) Functional Level- Individual Employees (Individualized strategic planning implemented by personnel) |
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Define development of a strategy and the execution of a strategy? |
Development can be thought of by considering the 5 P's: Planning Purpose Ploy Position Perspective -Execution is the act of doing something, and determining if it works. A 5-step example of executing a strategy: -Defining the vision or clear purpose -Converting the vision to measurable objectives -Defining a plan to achieve the end goal -Implementing the plan -Measuring the results and revising the plan based on actual versus planned events |
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What are the advantages of having a strategy? |
-Effective Planning- -To Capitalize on Opportunities- -To Make Effective Decisions- -To Enhance the Manager's Entrepreneurial Role- |
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What is policy? |
Broad guidelines or procedures an organization follows |
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What is policy? |
Broad guidelines or procedures an organization follows |
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Why is policy important? |
-Streamlines decision making -Need it for recurring issues -Directs employees; evaluated from the outside of your organization on your policy -Gender equity -May provide clear procedures for handling routine decisions -Framework for handling complex decisions -Gives you precedent to solve problems fairly and consistently |
