corporate planning and implementation

Strategic Implementation means:

• deciding on which strategies to follow in future years

• making sure the the strategies that are being followed are certain to be successful

• Preparing people and resources for changes resulting from strategic choices

• finding out how the company currently stand in the markets it operates in

One of the main reason why businesses have a corporate plan is to:

• eliminate the impact of external forces on the business

• give a clear direction to management and workers

• reduce the need to take important strategic decisions to reach corporate objectives

• reduce the need for long term corporate objectives

It may be necessary to replace senior managers in a business that is trying to change its overall corporate culture. The most likely reason for this is:

• to cut costs as management salaries are often very high

• to ensure that managers have attitudes and beliefs that do not conflict with new corporate culture

• to set a good example to all staff so that they know they will lose their jobs if they do not work hard

• to create a culture of fear within the business - even the senior managers can lose their jobs

All of the following are major causes of external change that will impact on a business except :

• new technologies in the industry mean that significant product changes will be needed

• competitive rivalry increases as several new entrants into the market

• fear of inflationary boom has lead to the government increasing taxes and interest rates

• the business has recently merged with a larger business in the same industry

Which ONE is the benefit of corporate plans?

• Based on forecasts of the future

• Take time and resources to develop

• Clear plans provide focus

• Managers can become so 'tied to the plan'

The values, attitudes and beliefs of the people working in an organization that control the way decisions are taken and how the business interacts with stakeholders is called___

• Business plan

• Corporate culture

• Corporate plans

• Strategic implementaton

A level of strategy that is concerned with the firm’s overall objectives and scope of operation

• Corporate

• Business

• Functional

What is the key characteristic of a SMART goal?

• Specific

• Measurable

• Achievable

• Time-framed

What is the purpose of contingency planning?

• Identifying potential future changes

• Preparing for unexpected events

• Analyzing the organization and its environment

• Matching threats and opportunities with corporate strengths and weaknesses

What is the term for the shared experiences, beliefs, and norms that characterize a firm?

• Organizational structure

• Corporate culture

• Management process

• Strategic management