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13 Cards in this Set
- Front
- Back
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The process of making and implementing strategic decisions. |
Strategic Management |
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An action that managers take to attain one or more of the organizations goals |
Strategy |
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An analysis that guides you to identify the positives and negatives inside your organization (strength & weakness) and outside of it, in the external environment (opportunity & threat). |
SWOT analysis |
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Can be also as a bundle of decision and acts which a manager undertakes, and which decides the result of the firm’s performance |
Strategic Management |
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Refers to a process of collecting, scrutinizing and providing information for strategic purposes |
Environmental Scanning |
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The process of deciding best course of action for accomplishing organizational objectives and hence achieving organizational purpose |
Strategy Formulation |
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The ultimate step in strategy formulation |
Choice of Strategy |
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Implies making the strategy work as intended or putting the organizations chosen strategy into action |
Strategy Implementation |
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The final step of strategy management process |
Strategy Evaluation |
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An analysis of the organization’s strength, weakness, opportunities, and threats |
SWOT analysis |
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4 BASIC FMANAGEMENT FUNCTION OF STRARTEGIC MANAGEMENT
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Planning Controlling Organizing Leading |
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7 CHARACTERISTICS OF THE CONSTRUCTION INDUSTRY |
Size of the Firm Construction Project Workforce Ease of Entry to The Industry Separation of Design and Production The Nature of Demand The Government’s Role |
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4 PHASES OF STRATEGIC MAANAGEMENT |
Environmental Scanning Strategy Formulation Strategy Implementation Strategy Evaluation |
