Concept explainers
To determine: The advantage of AFI framework for Company T.
Introduction:
Strategic management refers to formulating and implementing the way to achieve the goals by considering available resource and the internal and external environment. It will be framed by the top management on behalf of an organization.
Explanation of Solution
Determine the advantage of AFI framework for Company T:
The strategic planners would analyze the internal and external data using the AFI framework and the quantifiable areas will be applying. Here, market demand, costs, and margins are said to be the quantifiable areas.
- The top management can be able to understand the perceptions of the consumers using the AFI frameworks.
- The top management can use AFI framework to frame the strategy that helps to convert the perpetual to potential customers.
- The AFI framework helps to introduce new technology, technology development, and technology up-gradation.
Company T collects feedback from the customers to provide products according to their preferences. Organizing survey regarding the performance and products of the firm helps the top management to adopt a new strategy.
Want to see more full solutions like this?
- In a small island developing country, the service sector has been dominated by four companies: LightingPros Ltd., Island Solutions Inc., Real Services Co., and Entertainment Enterprises. Each company offers similar services, including event planning, catering, transportation, equipment rental, and audio-visual production. At present clients engage different companies for specific services, creating a balanced distribution of business across the market. However, recent shifts in client preferences have disrupted this equilibrium. Clients now prefer the convenience and efficiency of working with a single provider that can offer a comprehensive package of services. This has led to a significant decline in business for some companies that are unable to offer the full suite of services on their own. Some of the challenges faced by the companies include limited-service offerings, client convenience where clients prefer working with a single vendor to simplify communication, reduce costs, and…arrow_forwardWhich of the following is NOT a barrier to managerial listening? Group of answer choices All choices are correct. intention physical limitations time constraintsarrow_forwardWhich of the following is NOT a barrier to managerial listening? All choices are correct. intention physical limitations time constraintsarrow_forward
- I need answer typing clear urjent no chatgpt used pls i will give 5 Upvotes.arrow_forwardRed Flags" for management to identify and understand for fraud risk in the financial statements. Identify and discuss Four of these.arrow_forwardPlease original work Background information: The evaluation and control process in research and development is critical.Consider the following facts: It takes one hundred research ideas to generate about ten development projects. Only two of those ten projects will make it to commercialization. Only one of the two will make money. In Great Britain and the United States, about half of the development money is spent on projects that never reach the market.(Parker, K., and M. Mainelli. 2001. Great Mistakes in Technology Commercialization. Strategic Change, 10: 383 390.) Background information: The result of such development patterns is that firms such as Microsoft will spend over $3 million on development costs for each patent it files. There are numerous stories of firms that failed at research and development processes. For example, in developing a new aircraft engine, one test the engine must pass is the chicken test. As you might expect, an aircraft engine must be able to have a…arrow_forward
- Please original work Consider the potential performance measures for a current workplace= Manangement Consulting Firm What are the top four critical performance measures you would use in a Balanced Scorecard? State the reason why you chose these four measures over other potential measures. How many should be measured? Why? Please cite in text references and add weblinksarrow_forwardWhen a company has many strategic changes to make that are not compatible with the culture, organizations should __________,arrow_forwardThe number of children reported by each respondent. correct options are nominal, ordinal or countinousarrow_forward
- The number of children reported by each respondent. nomial, ordinal and countinousarrow_forwardWhen learning about human resource management, it is important to have an understanding of the ______ section of the practitioner’s model of human resource management. This section contains the things that are most critical to the organization’s basic stability and success. Current HRM, Strategic Planning, and HR Laws Technical Skill Staffing Developing and Managing Protecting and Expandingarrow_forwardWhat is one of the certifications HR professionals can obtain?BER BAS HHR PHR ULCarrow_forward
- Understanding BusinessManagementISBN:9781259929434Author:William NickelsPublisher:McGraw-Hill EducationManagement (14th Edition)ManagementISBN:9780134527604Author:Stephen P. Robbins, Mary A. CoulterPublisher:PEARSONSpreadsheet Modeling & Decision Analysis: A Pract...ManagementISBN:9781305947412Author:Cliff RagsdalePublisher:Cengage Learning
- Management Information Systems: Managing The Digi...ManagementISBN:9780135191798Author:Kenneth C. Laudon, Jane P. LaudonPublisher:PEARSONBusiness Essentials (12th Edition) (What's New in...ManagementISBN:9780134728391Author:Ronald J. Ebert, Ricky W. GriffinPublisher:PEARSONFundamentals of Management (10th Edition)ManagementISBN:9780134237473Author:Stephen P. Robbins, Mary A. Coulter, David A. De CenzoPublisher:PEARSON