What is a Strategic Issue? How might we go about identifying a strategic issue? Consider how anorganization could potentially view a strategic issue as an opportunity if addressed. Apply with anexample

Strategic issue : Any unresolved problem, which needs attention to achieve the further organisation…

Answered: What is a Strategic Issue? How might we…

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

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How important is it to change, and what criteria determine the changes in a strategic management plan?
Strategic planning is a key component in the success of any venture, as it involves the systematic organization of resources and actions to achieve specific objectives. This process is not limited to business; it extends to various aspects of life, including education, personal development, and even leisure activities. Planning provides a framework for decision-making, helping individuals and organizations navigate through uncertainties. It also allows for the identification of potential risks and the development of contingency plans to mitigate those risks. The act of planning is not a one-time event but rather an ongoing process that requires periodic reviews and adjustments to align with changing circumstances and goals. Question: How can individuals ensure that their long-term plans remain relevant and adaptable in the face of evolving circumstances and changing priorities?
In one of the definitions used by Pearce and Robinson, Strategic management was described as the “art and science of formulating, implementing and evaluating cross-functional decisions aimed at achieving organizational goals”; Briefly discuss the context in which strategic management could be described as ‘an art’ and when it also could be described as ‘a science
In one of the definitions used by Pearce and Robinson, Strategic management wasdescribed as the “art and science of formulating, implementing and evaluating crossfunctional decisions aimed at achieving organizational goals”; Briefly discuss the contextin which strategic management could be described as ‘an art’ and when it also could bedescribed as ‘a science’.
Considering the many different perspectives on what strategy is and how strategic planning should occur, which of the following is the best statement? Organizations cannot predict the future and thus should rely on a continuous, emerging strategy. Organizations should practice ‘strategic competence’ by focusing on what they’re best at. Organizations should pay particular attention to the resources they have when making strategic choices. Organizations should only concern themselves with leveraging their core competencies. Organizations should live their strategy on a daily basis.
Strategic planning is a systematic process that organizations undertake to set priorities, allocate resources, and align efforts towards achieving long-term goals and objectives. It involves assessing the current state of the organization, analyzing internal and external factors that may impact its success, and formulating strategies to navigate challenges and capitalize on opportunities. Strategic planning typically involves multiple steps, including conducting a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis, defining the organization's mission, vision, and values, setting specific and measurable goals, and developing action plans to achieve them. Effective strategic planning requires input from various stakeholders, including senior leadership, employees, customers, and external partners, to ensure alignment and buy-in. It also involves regular monitoring and evaluation of progress, with adjustments made as needed to stay on track and respond to changing…
Strategic control is an important component of the strategic management process, as chosen strategies can becomeobsolete as the organization’s environment changes. Strategic control identifies and interprets critical events, or changetriggers, in the external environment that require a response from the organization.With regard to this statement, discuss the different types of strategic control that organisations can use. will appreciate a detailed response, subject is Corporate & Business Strategy
SHORT ANSWER If you were a business owner, which of these goals might you be able to accomplish using the framework of Theory Z or Theories X and Y? Could you use Theory Z to work on one goal and use Theories X and Y to work on another goal, thereby accomplishing two goals with these theories by using a different approach on each of the two goals? Goal 1: Improve quality of a product or service. Goal 2: Improve employee collaboration. Goal 3: Foster decision making skills in the workforce. Goal 4: Develop and maintain a successful workforce in a global environment. Goal 5: Develop strong leadership in the work place. Goal 6: Foster adherence to organizational values, ethics, and professional responsibility.
Answer the question in an essay format, please. The scenario and question are attached.

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What is a Strategic Issue? How might we go about identifying a strategic issue? Consider how an organization could potentially view a strategic issue as an opportunity if addressed. Apply with an example