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18 Cards in this Set
- Front
- Back
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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.
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Environmental scanning |
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The process of deciding best course of action for accomplishing organizational objectives and hence achieving organizational purpose |
Strategic formulation |
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The ultimate step in strategy formulation |
Choice of stategy |
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Implies making the strategy work as intended or putting the organizitons chosen strategy into action |
Strategy implementation |
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An analysis of the organization’s strength, weakness, opportunities, and threats |
SWOT ANALYSIS |
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The final step of strategy management process |
Strategy evaluation |
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An action that managers take to attain one or more of the organizations goals |
Strategy |
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4 BASIC FMANAGEMENT FUNCTION OF STRARTEGIC MANAGEMENT |
PlanningControlling Organizing Leading |
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7 CHARACTERISTICS OF THE CONSTRUCTION INDUSTRY |
Size of the FirmConstruction ProjectWorkforceEase of Entry to The IndustrySeparation of Design and Production The Nature of Demand The Government’s Role |
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4 PHASES OF STRATEGIC MAANAGEMENT |
Environmental Scanning Strategy FormulationStrategy ImplementationStrategy Evaluation |
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THE HEART OF STRATEGIC MANAGEMENT
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STRATEGY SYSTEMS
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Something we do in advance of taking action; that it is anticipatory decision-making |
PLANNING |
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Summary of all information collected together in a chart |
Total strategic summary |
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Identifies the strength and weaknesses of the organization for comparison with the opportunities and threats in the future environment. |
SWOT ANALYSIS |
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Also called emergent strategy |
UNREALIZED STRATEGY |
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Traditionally been called the entrepreneurial mode of strategy-making and is well known both in the economics and management literature. |
STRATEGIC VISION |
