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17 Cards in this Set
- Front
- Back
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Planning |
conscious, systematic process of making decisions about goals and activities that an individual, group, work unit, or organization will pursue in the future.
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Situational analysis
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A process planners use, within time and resource constraints, to gather, interpret, and summarize all information relevant to the planning issue under consideration.
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Goal
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A target or end that management desires to reach
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Plans
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The actions or means managers intend to use to achieve organizational goals
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Contingency plans
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sets of actions to be taken when a company’s initial plans have not worked well or if events in the external environment require a sudden change
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Scenario
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A narrative that describes a particular set of future conditions.
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Mission
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An organization’s basic purpose and scope of operations.
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Strategic vision
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the long-term direction and strategic intent of a company
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Stakerholders
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Groups and individuals who affect and are affected by the achievement of the organization’s mission, goals, and strategies
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Resources
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Inputs to a system that can enhance performance. If a resource is a competitive advantage (valuable , rare, difficult to imitate, difficult to transfer), it’s a core capability
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Benchmarking
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process of assessing how well one company’s basic functions and skills compare with those of another company or set of companies.
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SWOT analysis
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A comparison of strengths, weaknesses, opportunities, and threats that helps executives formulate strategy.
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Corporate strategy
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The set of businesses, markets, or industries in which an organization competes and the distribution of resources among those entities
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Concentration
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A strategy employed for an organization that operates a single business and competes in a single industry.
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Vertical integration
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The acquisition or development of new businesses that produce parts or components of the organization’s product
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Related diversification
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A strategy used to add new businesses that produce related products or are involved in related markets and activities
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Unrelated diversification
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A strategy used to add new businesses that produce unrelated products or are involved in unrelated markets and activities |
