Advise the manager and senior staff regarding the (1) process of strategy evaluation, (2) how the objectives are evaluated, (3) as well as the challenges that may arise. Also, provide advice to members of the organization with (4) respect to measuring its performance.
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Advise the manager and senior staff regarding the
(1) process of strategy evaluation, (2) how the objectives are evaluated, (3) as well as the challenges that may arise. Also, provide advice to members of the organization with (4) respect to measuring its performance.
Step by step
Solved in 2 steps
- What is a grand strategy, and how does it relate to strategic objectives and the three levels of strategy?What is the difference between strategic objectives and a strategy?(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 Analysis
- 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.A manager has a clear knowledge of where the company needs to be at the end of the coming year and is in the process of identifying the goals that would lead the company to that desired position. Which stage of the strategic management process is being illustrated? A. Formulation B. Objectives C. Evaluation D. ImplementationStrategic managementIn order to prepare and formulate the strategy, a strategic analysis must be conducted for each of the external environment of the organization as well as the internal environment of the organization. Explain this with the application of this analysis to a Saudi company. In addition to clarifying the strategic methods used in analyzing the conditions and conditions of the industry
- 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?How do vision and mission statements affect the strategic management process? Select an example of strong vision and mission statements and include them here. Why do you think these are strong statements? How do the statements contribute to a perception of company's overall competitiveness? Cite any sources used to support your answer.In 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
- 9.A manager has a clear knowledge of where the company needs to be at the end of the coming year and is in the process of identifying the goals that would lead the company to that desired position. Which stage of the strategic management process is being illustrated? A.Formulation B.Implementation C.Evaluation D.ObjectivesStrategyWhich of the following statements about marketing strategies is correct (a)? Select one or more options: - A market leader (like Coca-Cola) often has different strategies than a market challenger (like Pepsi) - The company's vision 'is oriented towards markets and customers - If you follow the strategic goal niche, you target a very small part of the market - Using cost leadership as a strategy means that you always set lower prices than the competition - The company you work for has conducted a survey and concluded that their customer service is not good enough at solving customers' problems. In a SWOT analysis, this would be a threat.Respond to the following in a minimum of 175 words: Discuss the differences between an internal analysis and an external analysis with respect to strategic planning. What do organizations typically analyze as part of an internal analysis? Why? What do organizations typically analyze as part of an external analysis? Why? How do the results of each of these analyses inform an organization’s strategic plan?