Distinguish between Strategic Formulation and Strategy Implementation. (Answer in not less than 1000 words) You may include a table as well
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Distinguish between Strategic Formulation and Strategy Implementation. (Answer in not less than 1000 words) You may include a table as well.
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- 1. Roger is telling Mary the first three steps in planning an organization. In the correct order, they are ____. Writing a mission statement, creating a vision statement, and strategic planning Strategic planning, creating a mission statement, and creating a vision statement Strategic planning, operational planning, and preparing a vision statement Tactical planning, operational planning, and writing a mission statement Operational planning, creating a mission statement, and developing a hiring plan.Identify the resources, capabilities and core competencies that would be needed for that business. Resources: Asset that an organization can use when formulating or implementing a strategy. - Tangible: people, money, equipment, location, supplies - Intangible: knowledge, patent, trademark, brand, reputation, training system Capabilities: An organizational and management skill necessary to orchestrate a diverse set of resources and deploy them strategically. This is an intangible. Core competencies: A unique strength within an organization that allows it to differentiate its products and services from those of its competitors, creating higher value or lower costs for its customers and itself. Identify the major costs of the following three ways to start a new business. Start-up Business purchase Franchise What do you think is best way to start up this business (creating a new business, buying an existing business or franchising a business)? Why?Q1. Indicate whether or not the organization where you are employed engages in strategic management and planning. If Yes, how has this benefitted the organization? If No, give your perceptions regarding the limitations and why the organization does not engage in strategic management and planning. Q2. Discuss briefly why ethical decision-making is essential in an organization, and the possible effects that ethical violations/unethical behaviours can have on the organization and its stakeholders.
- Read the instructions in full before you attempt to answer. In section 1 below, a total of eight different market segments for the cold beverage market have been provided (Note: For the purpose of this discussion activity, let’s assume that the cold beverage market includes fizzy drinks (sodas), juice, energy drinks, milk-based drinks, yoghurt-based drinks, water, sports drinks, and so on.). Read section 1 statements, then read the task in section 2. Section 1: Quick Overview of Each Market Segment The ‘Really thirsty’: This group of consumers is seeking a fairly straightforward functional benefit from their consumption of a beverage. The ‘On the go’: The on-the-go market segment is a busy group of consumers who tend to eat and drink while they are traveling. The ‘Need a boost’: This market segment consists of those consumers are feeling rundown or tired during the day. The ‘Variety seekers’: Variety seekers are consumers that have limited brand loyalty and will consume a broader…Analysis of pros and cons of available alternatives is part of Select one: a. Staffing b. Organization c. Decision-making O d. PlanningMr. Khalid is the new general manager of ABC Company and he is planning to classify the organization into different departments such as production, selling and financing. What pattern of departmentation Mr. Khalid is planning in the given situation? a. Combination of both functional and divisional b. Departmentation by functions c. Departmentation by Product or Services d. Divisional structure
- Now that we have been using CAPSIM, let’s look back at your experiences in your practice work. How did you test the relationships of decisions across the four business functions? Specifically, how did you use the reports in each round? (Please provide a specific example.)Determining an organization's objectives and deciding how to accomplish them is a management function known as: A) Near-shoring B) Staffing C) Crowdsourcing D) Planning. E) Factoring,From the following, choose which is NOT included in the three ways of determining the kind of structure needed to attain objectives? a. Relation Analysis b. Decision Analysis c. Ratio Analysis d. Activity Analysis
- Business Performance Management (BPM) can be seen to be the convergence of Corporate Strategic Planning and Business Intelligence (BI). a) Provide an overview of the key steps within a Corporate Strategic Planning process, identifying any strategic planning techniques that could be employed. b) Describe a suitable BI system that could be used directly by a senior manager to monitor company progress towards achievement of its corporate strategic plan.a) PLEASE EXPLAIN THIS BRIEFLY. b) RELATE THE BUSINESS DECISIONS (BUDGET DECISIONS VS FINANCING DECISIONS VS INVESTMENT DECISIONS) OF THE COMPANY.Which of the following is not a stage of strategy formulation techniques? a. Formulation Framework b. Matching stage c. External factor evaluation d. Decision stage