1. Discuss the importance of strategic change management in strategy execution. 2. Explain the difference between strategic fit and strategic drift
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1. Discuss the importance of strategic change management in strategy execution.
2. Explain the difference between strategic fit and strategic drift
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The final stage in strategic management is strategy implementation.
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- Explain the accuracy of the following statement: Formal strategic planning is irrelevant for companies competing in the high-tech industry because pace of change is so rapid that plans are routinely made obsolete by unforeseen events. What importance does strategic management’s play in organization's?Changing circumstances and ongoing managerial efforts to improve the strategy A) All of these. B) make it very difficult for a company to have concrete strategic objectives. C) make it very hard to know what a company's strategy really is. D) account for why a company's strategy evolves over time. E) explain why a company's strategic vision undergoes almost constant change.Crafting a strategy involves A) blending deliberate/planned initiatives with emergent/unplanned reactive responses to changing circumstances, while abandoning planned strategy elements that have failed in the marketplace. B) developing a five-year strategic plan and then fine-tuning it during the remainder of the plan period. C) trying to imitate as much of the market leader's strategy as possible so as not to end up at a competitive disadvantage. D) doing everything possible (in the way of price, quality, service, warranties, advertising, and so on) to make sure the company's product/service is very clearly differentiated from the product/service offerings of rivals. E) All of these accurately characterize the managerial process of crafting a company's strategy.
- 1 Explain why the concept of Competitive Advantage is central to the study of Stragic Management 2 Compare and contrast vision and mission statement. Describe why a missikn statement is so important to the Strategic Management Process 3 State Clearly the difference between internal and external environment of any business Give at least two (2) examples of each to support your answer(a). Distinguish between the 3 levels of Strategy and the three stages of Strategic Management. Explain the activities entailed at each of the 3 levels of strategy. 1 (b). Explain the relevance of each of the following terms and concepts to a non management professional.I) Synergy II) Scenario Planning III) Bench-MarkingIV) Value Chain AnalysisIn performing the strategic evaluation activities, strategic leaders and managers must take into consideration certain key characteristics to determine an effective strategy evaluation system (David, 2007). Which of the following is NOT one of the key characteristics? a. Accuracy in relation to adequate feedback. b. Evolution to re-start. c. Timely feedback for decision making. d. Meaningful to understand that strategy has a short-term and long-term focus. Select one: a. a b. b c. c d. d
- Devising the company’s overall strategic plan is top management’s responsibility. However, few top executives formulate strategic plans without lower-level managers’ input. In view of the current business competitive pressures do you think this strategy will work, give your arguments? Also explain why strategic planning is important to all managers. and briefly describe the steps of strategic planning process. Question is related to Introduction to Human Resource ManagementAssess the influence of culture on the phenomenon of strategicdrift, describing and justifying an appropriate tool that strategicmanagers can use to prevent such drift. Use appropriateliterature to support your answer.Jill is the CEO of Company K's strategic business unit that makes sound [x systems for home theaters. The current trend that people watch movies on their tablets has made it difficult for this strategic business unit, and there seems to be no foreseeable future that this will change. If Jill used the Boston Consulting Group (BCG) growth-share matrix lens on this strategic business unit, what strategy should she choose? Selected Answer: b. invest for growth Answers: a. allocate more resources for manufacturing b. invest for growth c. hold d. harvest and/or divest
- Which of the following is the last stage of the strategic management process?Please choose one:a.Strategy implementationb.Determining the strategiesc.Strategy valuationD.Establishing the business missionto.Establishing the business visionIn the dynamic landscape of technology startups, effective strategic planning plays a pivotal role in determining the success and sustainability of a business. Consider the case of XYZ Tech, a startup that entered the market with an innovative software solution. In the initial stages, the company faced challenges such as rapid technological advancements, fierce competition, and changing customer preferences. The leadership team recognized the need for a comprehensive strategic planning approach to navigate these uncertainties and position the company for long- term success, XYZ Tech engaged in a thorough analysis of market trends, competitor activities, and customer feedback. Through collaborative workshops and consultations with key stakeholders, the company formulated a strategic plan that focused on product innovation, market expansion, and customer relationship management. The plan outlined specific goals, milestones, and allocated resources to ensure efficient execution. As a…Course Title: Introduction to Human Resource Management Please Correct the Answer and Long Question/Answer Question : Devising the company’s overall strategic plan is top management’s responsibility. However, few top executives formulate strategic plans without lower-level managers’ input. In view of the current business competitive pressures do you think this strategy will work, give your arguments? Also explain why strategic planning is important to all managers. and briefly describe the steps of strategic planning process.