Summary Notes on Unit 10 - Problems with Strategy pt2
0 view 0 purchase
Course
Unit 10 - Managing strategic change
Institution
AQA
These notes continue on the previous document about problems with strategy and talk about what are the benefits of strategic planning and also how it might not be beneficial. Also talks about what contingency planning is.
Strategic planning
The benefits of strategic planning include:
o Clear sense of direction
Throughout the hierarchy if communicated effectively
Encourages accountability
o Prior consideration to key internal strengths and weaknesses of the business
and external opportunities and threats.
o Logical process
o Identifies and gives consideration of range of strategic options
o Encourages progress to be tracked
o Allows for progress to be revived
However:
o May be too constraining if lacks flexibility
o Needs to be monitored and reviewed
o Requires resources
o Cannot predict the future
o Cannot deter the unexpected
Contingency planning
Is the process by which organisations try to prepare for unexpected and potentially
disastrous events
Businesses have to be able to respond to change and change can be unpredictable
Crisis management is the manner in which an organisation responds to an
unexpected and potentially disastrous event.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller tomwatson. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $4.55. You're not tied to anything after your purchase.
