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Foundation of planning (functional strategies (cost leadership strategy,…
Foundation of planning
planing aims to
minimize waste and redundancy
set the standards to facilitate control
reduce the impact of change
provide direction
disadvantages of planning
create rigidity
wrong focus
decrease flexibility
the strategic management process
SWOT analysis
Internal
weakness
strength
External
threats
opportunities
formulate strategies
identify the organization's mission, goals and strategies
implement strategies
evaluate results
managers' strategic weapons
innovation
quality
employee skills and loyalty
social media
customer service
big data
growth strategy
vertical integration
gain control of inputs and outputs
horizontal integration
combine with competitors
concentration
focus on primary line of business and increase the number of products
diversification
move into a different industry
Poter's competitive strategies
differentiation
focus strategy
differentiation focus
cost focus
cost leadership strategy
stuck in the middle
functional strategies
cost leadership strategy
differentiation strategy
competitive advantage
strategic business units(SBUS)
competitive strategy
renewal strategy
stability strategy
growth strategy
corporate strategy
goals
real goals
traditional goal setting
division manager's objective
apartment manager's objective
top management's objective
individual employee's objective
stated goals
contingency factors in planning
degree of environment uncertainty
organizational level
lower level managers
operational planning planning
upper level managers
strategic planning
length of future commitment
dynamic environment
environmental scanning
competitive intelligence
strategic weapon
big data
social media