Planning and Strategy Flashcards
Strategy is an important part of which management process?
Planning
Strategic plans are sometimes called…
Directional plans
Tactical plans are sometimes called…
Intermediate plans
Operational plans are sometimes called…
Action plans
SWOT analysis stands for…
Strengths, Weaknesses, Opportunities, Threats
Name the 6 aspects of PESTLE analysis.
- Political factors
- Economic factors
- Socio-cultural factors
- Technological factors
- Legal factors
- Environmental factors
Name one criticism of strategic planning.
Any 1 of the below:
• It is only useful with the benefit of hindsight.
• It makes senior management less responsive to changes in the environment.
Name one of the assumptions in strategic plans that were criticised by Mintzberg.
Any 1 of the below:
• An organisation can predetermine its future
• Planners take an objective view
• Standard procedures will produce an effective strategy
Tactical plans are usually concerned with…
how things are done
What is the main tool of tactical planning?
Gantt charts
What kind of plans have the shortest time-frame?
Operational
What does the acronym PERT stand for?
Performance, evaluation, review, technique
Which three features are essential aspects of planning?
- Goals
- Analysis of resources & stages
- Arranging stages
Name two strategies concerned with size.
Any two of the below:
- Globalisation
- Industry dominance
- Growth
- Retrenchment
Name two weaknesses of Management by Objectives (MBO)
Any two of the below:
• Focus on measurable aspects
• Excessive managerial effort
• Encourages setting lower goals
• MBO may be culturally specific and not work in all cultures
• MBO does not work where rapid change is normal
