MGMT344 QUESTIONS AND ANSWERS A+ GRADED .Buy Quality Materials!
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Course
MGMT344
Institution
MGMT344
MGMT344 QUESTIONS AND ANSWERS A+ GRADED .Buy Quality Materials!
Environement lead (intro to strat mgmt)
adapting to external opportunities and threats
Resource lead (intro to strat mgmt)
exploring unique and valuable resources
Proactive strat (intro to strat mgmt)
new markets, products or s...
MGMT344 QUESTIONS AND ANSWERS A+ GRADED
.Buy Quality Materials!
Environement lead (intro to strat mgmt)
adapting to external opportunities and threats
Resource lead (intro to strat mgmt)
exploring unique and valuable resources
Proactive strat (intro to strat mgmt)
new markets, products or services and a constant search for new strategic position
Reactive strat (intro to strat mgmt)
defending current market share. Often unsuccessful in this day and age (technology,
global markets)
Intended & emergent strat (intro to strat mgmt)
intended - organisation hopes to execute, a detailed business plan is put in place to
achieve it.
emergent - unplanned strat that arises in response to unexpected opportunities and
challenges. Flexible approach, autonomous action from lower mgmt, accidental
discoveries can have dramatic effect on strat direction
Realised strat is a combination of both emergent and intended. Unrealised strat can
occur during implementation
Agency theory (corporate governance)
says that shareholders and managers interests are not always aligned. Leading
managers to act in self interests opposed to shareholders.
Costs that arise from this are known as agency costs
Shareholder vs Stakeholder (corporate governance)
shareholder views responsibility is to them above all
stakeholder is anyone with interest, claim or stake in the firm and have the ability to be
affected or affect the firm's operations ( overall prosperity )
Macro environment (Macro/External environment analysis)
firm to analyze external environment to assess whether it will be a good fit and have a
well thought out plan in place (contingency, opportunities, threats). This all has indirect
impacts on the firm and are uncontrollable.
Political, Environment, Social, Tech, Economic and Legal factors all need to be
considered.
Cognitive bias can play a part here where managers and employees have interests due
to pre-determined thoughts about a situation
Scenario planning (Macro/External environment analysis)
develop and plan outcomes for several different futures. Identify multiple drivers
(manageable number, but more than 2), specify ranges of multiple outcomes for drivers
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