Management (MindTap Course List)
12th Edition
ISBN: 9781285861982
Author: Richard L. Daft
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 7, Problem 1DQ
Summary Introduction
To determine:
The strategic plan for the college/ university to compete for students in the marketplace.
Introduction:
Planning is a process of making the plan before executing any work. The process of planning includes identification of goals and objectives, formulation of strategies, creating the means required and implementation and monitoring.
The First step of planning is to establish a strategic goal. The strategic goal is a statement defining where the company wants to be in the future. The strategic goal represents the whole organization's goal rather than to the goal of a division or department. After setting the strategic goal, the organization prepares its strategic plans. Strategic plans define the action steps by which the company intends to attain strategic goals. Strategic plans are actually the blueprint that defines the organizational activities and allocations required for meeting long terms targets.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Review the article: Defining the Motivations and Capabilitied of Young Intrapreneurs: Literature Review and Research Opportunities
1. Discuss the differences and similarities of Entrepreneurship and Intrapreneurship.
2. How might your current organization or a former organization that you have been a member of incorporate the elements of Intrapreneurship?
3. Discuss the future of Intrapreneurship
List references
Roles for Human Resource Departments
Analyze HRM functions. Describe and detail each one of these functions. Why are the specific roles associated to HRM important?
List references
Employees and Entrepreneurs share many skills, mindsets and values. Even if you are employed by an organization, you may have an entrepreneurial mindset and entrepreneurial traits. How do you envision yourself within an organization, as an employee rather tahan an entrepreneur? Discuss the traits and values that support this?
Chapter 7 Solutions
Management (MindTap Course List)
Knowledge Booster
Similar questions
- Please original work Talk about your need for creating a balanced scorecard in a management consulting firm and the steps you would take to design the balance scorecard. Please cite in text resources and weblinksarrow_forwardThink of a team in which you have participated in a professional setting (the number of individuals should be more than one person and includes you. Also, the team could have been virtual, collocated, or a mixture of virtual and collocated). Think back on how the team formed from the first day until the end of the project or when the work function was completed. Describe what took place. Do you feel your team followed any part of Tuckman's model? Consider what was discussed regarding high-performing teams in the lesson this week in the Team Performance Domain section. It was explained that high-performing project teams are characterized by different factors. Based on the factors listed about high-performance teams, which two factors do you feel your team could have improved upon and why?arrow_forwardPlease original work Background information: Innovation can be simply defined as the introduction of something new or different in the workplace. Creativity on the other hand could be described as the use of the imagination for original ideas. Talk about the difference between innovation and creativity in the workplace and the role that technology plays in fostering both innovation and creativity Please cite in text resources and add weblinksarrow_forward
- In procurement evolution, which statement below should i choose to be themost relevant to ‘limited integration phaseSupply management is often viewed as a lower-level support function.It is the final and most advanced phase of procurement evolution.Supply managers' primary role is to ensure enough supply capacity exists.Supply management is a key part of the organisational structure with a strongexternal customer focus.arrow_forwardWhich of the following stages of P2P process is believed most critical for the spendperformance of procurement?Supplier evaluation and selection stagePayment and settlement stageRecognition of needs stageClarification of needs stagearrow_forwardWhich of the following statements is most accurate in describing ‘preferredsuppliers’?A preferred supplier involves a lower-level risk but still has a significant spend with thebuyer.They will be asked to compete with other suppliers for better price and conditions.They refer the strategic partners of the company.They are the core suppliersarrow_forward
- The primary purpose of this coordination is to establish company-wide agreementsto leverage volumes to obtain lower costs from volume discounts.” Which phase ofprocurement evolution is more relevant to the statement?Phase 1 Basic beginningPhase 2 Moderate developmentPhase 4 Fully integrated supply chainPhase 3 Limited integrationarrow_forwardAmong the phases of procurement evolution, the phase that ‘focuses on supplybaseoptimisation, and more attention is paid to total quality management (TQM) than toother progressive supply management strategies’ is more relevant to ___________.Phase 1 Basic beginningPhase 3 Limited integrationPhase 4 Fully integrated supply chainPhase 2 Moderate developmentarrow_forwardWhich of the following description methods is most suitable if the requirements arewell understood and there is common agreement between supply chain partners aboutwhat certain terms mean?Description by specificationDescription by brandDescription by industry standardDescription by performance characteristicsarrow_forward
- Which of the following activities is not a part of P2P cycle?Receipt of materialsForecast and plan requirementContract management to ensure suppliers fulfil their contractual obligationsNeed clarificationarrow_forward“The steps that must be completed when someone within the organisation requires aproduct, material, or service” is typically presented as _______________.Ordering processSupplier evaluation and selection processPurchasing and supply chain managementProcure-to-pay cyclearrow_forwardWhich of the following statements is most suitable to describe the concept of ‘extended value chain? 1) It is a higher-level recognition of the strategic value of managing operational activities and flows within and across a supply chain. 2)It involves multiple organizations as we move toward the raw material suppliers or downstream toward the ultimate customer. 3) It recognizes explicitly that competition is no longer between firms but rather between coordinated supply chains or networks of firms. 4) It is a supply chain to brings back defective products for repair and quickly returns them to customers.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...MarketingISBN:9781285193946Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,
Management, Loose-Leaf VersionManagementISBN:9781305969308Author:Richard L. DaftPublisher:South-Western College Pub
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub