Interacting with Org Environment Flashcards Preview

E3 Part 2 > Interacting with Org Environment > Flashcards

Flashcards in Interacting with Org Environment Deck (13):

What features should a vision statement have

  • Clarity
  • Description of bright future
  • Memorable and engaging
  • Realisitc and achievable
  • Consistency with Org values and culture


What are the features and benefits of a mission statement


  • Communicate with stakeholders
  • Broad outline of some of the main objectives
  • Describe purpose and values of Org
  • What the Org wants to be in (Market and Products)


  • Promote goal congruence
  • Focal point for new strategies
  • Communicate core values to stakeholders


Who falls into the various categories of Mendelow's Matrix for stakeholders

Minimal effort - casual labour

Keep Informed - Local suppliers and Core employees

Keep Satisfied - Gov, Customers

Key Player - Suppliers, Managers


Explain local incrementalism

  • No clar plan
  • Small, incremental steps


Explain Freewheeling

  • Determine goals
  • Resist the urge to
  • Grab Oppurtunites


  • Strategic cabability - To compete and survive
  • Tangible resources
  • Intangible resources
  • Competencies - Needed to compete in market
  • Threshold Competence and Resources - to meet customer needs
  • Unique C & R - underpin competitiveness


What is the main difference between Forecasting and Foresight

Forecasting tries to predict the future.

Foresight gives a range of possible outcomes based on curent trends


What foresights options are there?

  • Delphi - Anonymously polling a panel of experts
  • Visioning - vision desired state and strategy built around that
  • Role Playing - Delphi but without experts


Explain Advocacy & Self Interest  in terms of threats to ethics

Adv - promotion of client or business to the extent that the accountants objectivity is compromised

SI - if a financial or another matter influences the accountants behaviour


When looking at business activites explain what should happen in each level of a business apex (Corp, SBU, Operational)

Corporate = What business should we be in

SBU - How we should approach a market

Operationsl - decisions of stragetic importance such as investment in P&M and Personnel


What are the advantages of a formal planning process

  • Identifies Risk
  • Forces managers to think (creativity and innovation)
  • Forces decision-making
  • Better control over taregts
  • Consistency at all levels


What are the uses and criticisms of PLC


Identify strategies for products
Identify need for successor
Profit and cash balance with Org product portfolio


Real life is more complex
Forecasting is not possible with this
Stages are different in length industry to industry


When it comes to PVC in service industry what method is used and what are the primary activites called

Knows as the Value Shop

Problem acquisiton and diagnosis
Finding solutions
Choice of solutions
Solution implementation
Control and feedback