Ambot Flashcards
(28 cards)
is a set of managerial decisions and actions that
determines the long run performance of a corporation.
Strategic management
Managers initiate serious planning when they are
requested to propose foll year’s budget.
1-Basic financial
planning:
: As annual budgets become less useful at
stimulating long term planning, managers attempt to propose five-year plans.
2-Forecast-based planning
: As annual budgets become less useful at
stimulating long term planning, managers attempt to propose five-year plans.
2-Forecast-based planning
Frustrated with highly political yet
ineffectual five-year plans, top management takes control of the planning process
Externally oriented (strategic) planning:
refers to the use of business practices to reduce a company’s impact upon the natural, physical environment. Climate change is playing
role e in business decisions.
Environmental sustainability
refers to the use of business practices to reduce a company’s impact upon the natural, physical environment. Climate change is playing
role e in business decisions.
Environmental sustainability
is the monitoring, evaluating, and disseminating of
information from the external and internal environments to key people within the
corporation.
Environmental scanning
of a corporation consists of variables (Strengths and
Weaknesses) that are within the organization itself and are not usually within the short-
run control of top management.
The internal environment
is the development of long-range plans for the effective
management of environmental opportunities and threats, in light of corporate strengths
and weaknesses (SWOT).
Strategy formulation
is the purpose or reason for the organization’s existence, It
tells what the company is providing to society-either a service such as housecleaning
or a product such as automobiles.
mission
are the end results of planned activity. They should be stated as action
verbs and tell what is to be accomplished by when and quantified if possible.
Objectives
are the end results of planned activity. They should be stated as action
verbs and tell what is to be accomplished by when and quantified if possible.
Objectives
of a corporation forms a comprehensive master plan that states how the
corporation will achieve its mission and objectives.
strategy
describes a company’s overall direction in terms of its
general attitude toward
and the management of its various businesses
and product lines.
Corporate strategy
usually occurs at the business unit or product level, and it
emphasizes improvement of the competitive position of a corporation’s products
or services in the specific industry or market segment served that business
Business strategy
typically fit within the three main
categories of stability, growth, and retrenchment.
Corporate strategies
is a process by which strategies and policies are put
the development of programs, budgets, and procedures. This
process might changes within the overall culture, structure, andlor management
system of the entire organization.
Strategy implementation
is a process by which strategies and policies are put
the development of programs, budgets, and procedures. This
process might changes within the overall culture, structure, andlor management
system of the entire organization.
Strategy implementation
is a statement of the activities or steps needed to accomplish a single-use
plan.
program
is a statement of a corporation’s programs in terms of denominations. Used in
planning and control, a budget lists the detailed cost of each program.
budget
sometimes termed Standard Operating Procedures (SOP), are a system
of sequential steps or techniques that describe in detail how a particular task or job is to
be done.
Procedures
is a process in which corporate activities and
performance results are monitored so that actual performance can be compared with
desired performance.
Evaluation and control
is the end result of activities. It includes the actual outcomes of the
strategic management process.
Performance
