Chapter 3 Flashcards
(24 cards)
Advocates
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Broad strategic objectives
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Core competencies and competitive advantage
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Cost leadership strategies
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Guiding principles
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Market-niche strategies
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Mission
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Plan-do-check-adjust cycle
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Resisters
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Specific strategies
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Strategic execution
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Strategic management
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Strategic planning
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Vision
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What is strategic management?
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List the steps in the strategic planning process.
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What is a core competency?
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Explain why creative thinking is important in strategic planning and how to encourage it.
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What is SWOT analysis?
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Write a sample vision statement for a hypothetical organization.
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Write a mission statement for a hypothetical organization.
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Draft a set of guiding principles for a hypothetical organization.
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Establish two or three broad objectives for a hypothetical organization.
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Describe the steps that you would apply in executing your strategic plan for the hypothetical organization.
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