it is considering current data, facts and "what is now"

(a)  

who is the podcast's moderator

(a)  

it is the expression of a new depth of knowledge

(a)  

based on the podcast, critical can also mean crucial , true or false

(a)  

in this phase of critical thinking, you critic the information gathered

(a)  

it is consideing basic knowledge like terminologies, interrelationship and theories

(a)  

in exact order, write down the steps to develop your critical thinking

(a)  

it is considered thinking of past practices without considering facts

(a)  

in this phase of critical thinking you get to apply the contents of information

(a)  

one should be conscious and deliberate and should have the attitude of reflection, true or false

(a)  

applied knowledge is more powerful, true or false

(a)  

it is thinking of emotions first instead of facts

(a)  

you can apply the concepts of the information gathered without understanding it first, true or false

(a)  

it is thinking of whatever comes to mind

(a)  

It is about making you think ahead regarding key issues affecting

organizations;

(a)  

entails futuristic thinking and developing a course of

actions to meet goals and objectives.

(a)  

is a field of study that involves the process through

which firms define their MISSIONS, VISIONS, GOALS and OBJECTIVES, as well

as craft and execute strategies at various levels of the firms hierarchies to

create and sustain a competitive advantage.

(a)  

Strategic management is a field of study that involves the process through

which firms define their (a)   , as well

as craft and execute strategies at various levels of the firms hierarchies to

create and sustain a competitive advantage.

2 primary phases of Strategic management

(a)  

Phases of Strategic Management

(a)  

•Identification & development of

mission, vision, goals &

objectives

(a)  

•Analysis of general

environment

(a)  

•Analysis of industry structure

(a)  

•Analysis of internal

environment

(a)  

•Corporate strategy

(a)  

•Business strategy

(a)  

•Functional strategies

(a)  

2 Internal Environment

(a)  

2 external environment

(a)  

Defined as the context within which social and physical factors are taken into

consideration by individuals for decision-making.

(a)  

Three components of internal environment

(a)  

– operations, sales and marketing, human

resources, materials management, administration

(a)  

products, services, goals, objectives, process

that integrates the personnel with the organization

(a)  

Provides a situation analysis of the firm in terms of its current position

(a)  

Provides an overview of how it is positioned to tap/utilize

opportunities and counter threats.

(a)  

Swot Analysis Initially developed by (a)   from Stanford University

3 Swot analysis

(a)  

environmental characteristics

(a)  

Difficulty in accurately predicting the occurrence

of an event

(a)  

Rate of change related to factors in the external

environment

(a)  

The availability of slack resources and the

opportunities for firms to grow

(a)  

The opposite of munificence; an environment in

which the scope for growth is limited

(a)  

Degree of change in key factors in the

environment categories-general & task

environments

(a)  

Unfavorable conditions in the firm’s general

environment that have a negative impact on the

firm

(a)  

Unfavorable conditions in the firm’s task

environments

(a)  

Amount of change in the firm’s external

environments, complexity in those categories

(a)  

variables of environment

(a)  

Regional policies

(a)  

Change in environment

(a)  

Terrorism

(a)  

Wars

(a)  

New regulations impacting businesses, including minimum wage,

manufacturing and consumption of indigenous products, etc.

(a)  

Policies related to protectionism

(a)  

International trade-related policies

(a)  

Health – related policies

(a)  

Labor law and hiring workforce locally versus from abroad

(a)  

Policies related to the ecology including global warming, greenhouse gas

emissions, etc..

(a)  

Policies related to corporate and personal taxation

(a)  

Interest rates

(a)  

Inflation rates

(a)  

Gross domestic product (GDP) growth rate

(a)  

Cost of input factors

(a)  

Consumer price index

(a)  

Consumer confidence

(a)  

Price of oil and commodities

(a)  

Stock market

(a)  

Mortgage rates

(a)  

Balance of trade/exports and imports

(a)  

Exchange rates and purchasing power parity

(a)  

Corporate, personal, and capital gains taxes

(a)  

Availability of credit

(a)  

Unemployment rate

(a)  

Demographic changes

(a)  

Birth and death rates

(a)  

Immigration

(a)  

Emigration

(a)  

Age-related changes

(a)  

Gender-related

changes

(a)  

Education-related

developments

(a)  

Psychological changes

(a)  

Lifestyle of the baby-

boomer generation

(a)  

Lifestyles of

generations X and Y

(a)  

Cultural changes

(a)  

Multiculturalism

(a)  

Spread of diseases

(a)  

Religion

(a)  

Nationalism

(a)  

New technology-related hardware

(a)  

New technology-related software

(a)  

New technology applications

(a)  

Development of new products

(a)  

Investments in technology-related R&D

(a)  

Safety and security related technological

developments

(a)  

Demand for green products

(a)  

Supply of green products

(a)  

Global warming and greenhouse gas emissions

(a)  

Disposal of waste

(a)  

Recycling paper and landfills

(a)  

Deforestation and climatic changes

(a)  

TASK ENVIRONMENT

(a)  

PORTER’S FIVE FORCES MODEL

(a)  

This threat is high when the industry growth rate

has slowed

(a)  

It is low if the environment is liberal, seen

especially in growing markets

(a)  

Firms avoid direct competition in mature markets

(a)  

A threat when buyers’ buying power and

influence on the firm are high

(a)  

Buyers’ influence comes in the form of price

discounts, demand for better quality and level of

service, especially after-sales services

(a)  

Buyers could switch to other products and

services quite easily when switching costs are low

(a)  

Threat from suppliers is high when they can

change higher prices for raw materials and

finished goods

(a)  

Threat arises when few suppliers can provide

customized goods with access to unique raw

materials, technology, and other relevant

resources

(a)  

Threat is high when suppliers can control the

quality and price of raw materials

(a)  

When the supplier has higher influence,

incumbent firms have no choice but to accept or

switch suppliers, which is difficult when only a few

suppliers exist.

(a)  

Fads, trends, and consumer buying behavior

influence markets to pursue alternative products

(a)  

Substitute products are considered when markets

are exposed to threats – health related threats

(a)  

Threat is high when industry barrier to entry is

low

(a)  

Threat is low when firms have established best

practices in marketing, management, production

and administration.

(a)  

Established firms hold their position and

discourage firms from entering their market

through price and margin reductions.

(a)  

High brand loyalty enables firms to mitigate this

risk.

(a)