100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
MGMT344 QUESTIONS AND ANSWERS A+ GRADED .Buy Quality Materials! Henry Mintzberg's 5 Ps for Strategy: - PLAN - PLOY - PATTERN - POSITIONS - PERSPETIVE Definition: Strategic Management: Setting objectives for the organisation, planning and implemen$8.99
Add to cart
MGMT344 QUESTIONS AND ANSWERS A+ GRADED .Buy Quality Materials! Henry Mintzberg's 5 Ps for Strategy: - PLAN - PLOY - PATTERN - POSITIONS - PERSPETIVE Definition: Strategic Management: Setting objectives for the organisation, planning and implemen
0 view 0 purchase
Course
MGMT344
Institution
MGMT344
MGMT344 QUESTIONS AND ANSWERS A+ GRADED .Buy Quality Materials!
Henry Mintzberg's 5 Ps for Strategy:
- PLAN
- PLOY
- PATTERN
- POSITIONS
- PERSPETIVE
Definition: Strategic Management:
Setting objectives for the organisation, planning and implementing the necessary changes and measuring ...
MGMT344 QUESTIONS AND ANSWERS A+ GRADED
.Buy Quality Materials!
Henry Mintzberg's 5 Ps for Strategy:
- PLAN
- PLOY
- PATTERN
- POSITIONS
- PERSPETIVE
Definition: Strategic Management:
Setting objectives for the organisation, planning and implementing the necessary
changes and measuring the outcome
4 Key Perspectives in Strategy:
- Environment led Perspective.
- Resource led perspective.
- Proactive strategy
- Reactive strategy
Strategy Development Processes:
combines some emergent (logical incrementalism) and some deliberate (Strategic
planning) elements. Participation will vary due to urgency: Immediate actions (e.g.,
acquisitions = task forces & meetings) or long-term shifts (e.g., growth opportunities =
workshops)
4 Main Roles in Strategic Systems:
- Formulating Strategy
- Learning
- Coordinating
- Communicating plans & objectives
Stakeholder Mapping: The Power/Attention Matrix
Stakeholders Level of Attention (across)
Stakeholder power (down)
- High Power High Attention: KEY PLAYERS
- High Power Low Attention: KEEP SATISFIED
- Low Power High Attention: KEEP INFORMEDLow Power Low Attention: MINIAL
EFFORT
Board of Directors:
- Has 5 Major responsibilities & 3 key commitments: nominating, auditing, remuneration
The importance of analysis in the external environment:
- The needs for an organisation to be a good fit.
- Finding potential benefits
- Adapt to changing environment.
Strategic analysis & Cognitive Bias:
- Strategic analysis should:
o REVEAL opportunities & threats.
, o CORRECT trends and relationships
o WEAEKN past strategies
o SUPPORT new strategies
- But cognitive bias can:
o CONCEAL opportunities & threats.
o CREATE poor perceptions of tends and relationships.
o REINFORCE past strategies.
Cognitive biases
recency bias
escalating commitment
illusion of control
framing effects
anchoring effect
porters 5 forces
*Rivalry among competitors;
*Threat of new entrants;
*Threat of substitute products;
*Bargaining power of buyers;
*Bargaining power of suppliers;
Simple Control system
1. Mission
2. Objectives
3. Strategies
4. Implementation
5. Evaluation
6. Remedial action
controls and incentives include
- Direct supervision
- Operating & capital expenditure budgets
- Targets and pressures
the balanced scorecard
combines strategic control and evaluation of performance to move from a short term
view to a long term strategic one. it uses financial, customer, internal process, and
learning/growth lens
VRIO
Value of strategic competition, Rarity, Imitability, Organizational support
Definition: Dynamic Capabilities:
The firm's ability to renew and recreate strategic capabilities to meet the needs of
changing environments. Can create, extend, or modify operational capabilities.
the value chain
describes the categories within an organsiation which create a product or service.
about linking activities
this concept invites strategist to think of the firms in terms of activities
the value system/industry
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 SUPERGRADES01. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.99. You're not tied to anything after your purchase.
