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PEREGRINE - BUSINESS INTEGRATION & STRATEGIC MANAGEMENT - SECTION REVIEW
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PEREGRINE - BUSINESS INTEGRATION & STRATEGIC MANAGEMENT - SECTION REVIEW
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PEREGRINE - BUSINESS INTEGRATION & STRATEGICMANAGEMENT - SECTION REVIEW
Strategy is an organization's game plan to:
and answers the questions: - Answers- Create satisfied customers
Be ahead of competition
Achieve performance targets
Develop an eco-system that satisfies all stakeholders
Where are we now?
Where do we want to go?
How do we get there?
How will we know if we got there?
Match the term with its descriptor
A. Vision
B. Mission
C. Goals
D. Objective
a statement that provides the rationale for an organization's existence.
an aspirational future state that an organization desires to be in.
represent the transition from the mission into specific and measurable aims.
generic or qualitative aims of a company - Answers- A. Vision: an aspirational future
state that an organization desires to be in.
B. Mission: a statement that provides the rationale for an organization's existence.
C. Goals: generic or qualitative aims of a company
D. Objective: represent the transition from the mission into specific and measurable
aims.
The Five Tasks of Strategic Management - Answers- Developing a strategic vision &
business mission
Setting objectives
, Crafting a strategy to achieve the objectives
Implementing and executing the strategy
Evaluating performance, monitoring new developments, and initially corrective
adjustments
SWOT - Answers- Strengths: Things your company does well. Qualities that separate
you from your competitors, internal resources such as skill, knowledgeable staff.
Tangible assets such as intellectual property, capital, or proprietary technologies.
Weaknesses: Things your company lacks. Things your competitors do better than you.
Resource limitations. Unclear unique selling proposition.
Opportunities: Underserved markets for specific products. Few competitors in your area.
Emerging need for your products or services. Press/media coverage of your company.
Threats: Emerging competitors. Changing regulator environment. Negative press/media
coverage. Changing customer attitudes toward your company.
Five forces - Answers- Threat of New Entrants
Bargaining Power of Suppliers
Bargaining Power of Customers
Threat of Substitution
Competition in the industry
______________________ are firms in an industry that follow similar strategies such as
low cost and acceptable quality - Answers- Strategic groups
Leadership is the ability to: - Answers- Set and achieve challenging goals,
Make timely and clear decisions,
Outperform the competition, and
Inspire others to perform well and reach their potential.
__________________ is the ability to think, act, and influence others in ways that
ensure the enduring success of the organization. - Answers- Strategic leadership
Which of the following is not a strategic leadership skill?
A. Anticipate
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