Opportunities and threats are: a) identified as part of the firm's tactical planning process. b) factors that are external to the firm but can still affect its performance C) factors that are internal to the firm and those over which the firm has a great deal of control. d) dealt with primarily in a furm's operational planning process.

Opportunities and threats are: a) identified as part of the firm's tactical planning process. b) factors that are external to the firm but can still affect its performance C) factors that are internal to the firm and those over which the firm has a great deal of control. d) dealt with primarily in a furm's operational planning process.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

When developing plans to meet organisation and customer needs what are six reasons for presenting the outcome of the planning process to appropriate persons in the organisation and obtaining their feedback.
Manny is the Marketing Director for a children’s clothing line. He recently met with his boss, the Chief Marketing Officer, who walked him through the company’s new five-year strategic plan and the specific goals for his department. To evaluate whether goals were met, Manny must develop a list of “success metrics” and measure those throughout the course of the year and develop remediation plans if goals get off track. Manny’s work is an example of which of the functions of management? a. Controllingb. Leadingc. Organizingd. Planninge. None of the above
d iscuss the potential consequences of setting goals that are too ambitious or unrealistic in management
Amy's Drive-Thru, a fast-food facility, offers healthy, sustainably grown veggie and vegan fast food at higher prices than its competitors in the market and has a drive-through and indoor seated casual dining operation. What strategy is Amy's Drive-Thru using to gain competitive advantage? O a low-cost provider strategy O a broad differentiation strategy O a focused low-cost strategy O a best-cost provider strategy O a differentiation strategy
9 An SWOT analysis determines: Select one: a.internal strengths and weaknesses and internal opportunities and threats. b.external strengths and weaknesses and external opportunities and threats. c.external strengths and weaknesses and internal opportunities and threats. d.internal strengths and opportunities and external weaknesses and threats. e.internal strengths and weaknesses and external opportunities and threats.
A. Identify the critical success factors (CSF) of an organization?B. Describe the CSF approach methodology in IS planning?C. Discuss the use of business systems planning (BSP) in IS planning?
The BCG (Boston Consulting Group) matrix helps companies make strategic decisions about their product portfolio and allocate resources based on their relative position in the matrix. Discuss FOUR (4) components of the BCG Matrix.
What are the potential risks and uncertainties that need to be considered in long-term planning?
In a recent case study on strategic planning, a prominent company exemplified the pivotal role of thoughtful and forward-looking strategies in achieving sustained business growth. The company, faced with increasing competition and changing market dynamics, undertook a comprehensive strategic planning process to reassess its goals, identify potential opportunities, and mitigate potential risks. The planning phase involved a thorough analysis of market trends, customer needs, and technological advancements, leading to the formulation of a robust business strategy. Implementation of the strategic plan involved aligning the workforce, investing in technology upgrades, and forging strategic partnerships. The results were remarkable, as the company not only strengthened its market position but also achieved significant revenue growth, demonstrating the transformative power of effective strategic planning. Question: How can businesses strike a balance between the need for adaptability in a…
The tools presented in the strategy formulation framework are applicable to all sizes and types of organizations and can help strategists identify, evaluate, and select strategies. Which of the below tools, used in the process, allows strategists to evaluate alternative strategies objectively based on previously identified external and internal critical success factors? a. SPACE Matrix b. Internal-External (IE) Matrix c. SWOT Analysis d. Quantitative Strategic Planning Matrix
True or False: Strategic planning is primarily concerned with short-term goals and day-to- day operations.
Explore the concept of strategic alignment and discuss how organizations can ensure that their long-term plans are closely aligned with their mission, vision, values, and overall corporate objectives.