BUS1002 Week 6

__________ is an action focus that links an organisation to its environment.

• Objective setting

• Ecological management

• Problem solving

• Strategy

• Decision making

The essence of __________ is looking ahead, understanding the environment and the organisation, and effectively positioning the organisation for competitive advantage.

• managerial planning

• strategic management

• problem solving

• portfolio planning

• environmental scanning

The __________ is an environment that contains a few players who do not directly compete against one another.

• anti-competitive environment

• monopoly environment

• hypercompetition environment

• oligopoly environment

• dysfunctional environment

Successful strategic management occurs when organisations formulate and implement strategies that:

• fit with the organisation's vision and mission.

• fulfil the organisation's social responsibility objectives.

• enable employees to be productive.

• enable the organisation to make a profit

• achieve long-term, sustainable competitive advantage.

__________ is the process of allocating resources and putting strategies into action.

• Mission implementation

• Action planning

• Strategy implementation

• Vision activation

• Managerial budgeting

Important strategic management tasks include all of the following EXCEPT :

• identifying organisational mission and objectives.

• assessing current performance in relation to mission and objectives.

• creating strategic plans to accomplish mission and objectives, and implementing those plans.

• evaluating the results, and changing strategic plans or implementation processes as necessary.

• providing visionary and inspirational leadership.

__________ direct activities towards key and specific performance results.

• Corporate objectives

• Official objectives

• Strategic objectives

• Operating objectives

• Planning objectives

The common operating objectives for organisations might include all of the following EXCEPT:

• using resources well to operate at low cost.

• designing an adaptive organisation.

• producing high-quality goods or services.

• developing new products and/or processes.

• making a positive contribution to society.

In conducting a SWOT analysis, the examination of organisational strengths should consider all of the following factors EXCEPT:

• manufacturing bottlenecks.

• a skilled workforce.

• a good market share.

• strong financing.

• a superior reputation.

In a SWOT analysis, industry environmental factors include the organisation's:

• resource suppliers.

• competitors.

• customers.

• All of the above

• None of the above