NEW
Font size
WorksheetsSTRATEGIC MANAGEMENT
Total questions: 10
Worksheet time: 6mins
Which of the factors below will enable an organisation to obtain Competitive Advantage?
Excellent Quality of Product
Higher Profit
Lesser innovation
Bad customer service
An organisation carrying out its value chain activities at a cost lower than its competitors will enable the organisation to achieve:
Differentiation Strategy
Focus Strategy
Hybrid Strategy
Cost Leadership Strategy
Strategic purpose consists of
Macro-Shocks and industry forces
Crossing borders and new ventures
Growth, profitability, operational effectiveness, long term investments
Vision, mission, core values, objectives, strategy statements
When developing strategy for organization, which questions should we ask first?
How we will get there on a daily to weekly basis?
How are our departmental operational plans?
What are our short-term goals and operational objectives? How do we break down a larger strategic goal into workable tasks?
Where do we compete? What unique value do we bring to market? Which resources do we have or need? How do we sustain our value?
The internal business environment consists of...
factors that directly impact the organisation
factors that influence the operations of the business
factors that influence the wider environment in which the business operates
An external analysis is the process of scanning and evaluating an organization's various external environmental sectors to determine positive and negative trends that could impact on organizational performance.
True
False
