1. The external environment is such which influences the working of a business. These external factors have an impact on the ability of the businesses. The external factors affect the investments, strategic decisions and the goals of the business. There are n number of external factors that affect the business organisation, these may include some factors such as environmental factor, legal factor, political factor, social factor and technological factor. All the mentioned factors affect the business in either ways, whether directly or indirectly. These external factors have such an influence over a business, because these factors are affecting the business globally. They function in a global manner.
2. Strategic management in private business organisations is an important aspect to look into. The strategies that are framed by the management have an overall impact on the organisation's functions. The strategic management not only includes the policy formation but also, strategy implementation and strategy evaluation. The implementation of the strategies involve, deciding in which the new business is to be involved, how to allocate the resources, etc. But on the other hand in public or govt. organisations, the main pressure and objective is to change and manage the mission and vision of the organisation.
1- Influence of the external environmnet? 2- strategic management in private and gov't sectors? 3-methods of...
Step 1 Assess Need for Strategic Change Step 2 Conduct Situational Analysis Internal • Strengths . Weaknesses External Step 3 - Choose Strategic Alternatives Risk-avoiding strategies . Look for strategic dissonance Risk-seeking strategies Threats Source: Image adapted from Chuck Williars. (n.d.). Management (11st ed.). (Mason, OH: South-Westen Cengage Learning. 2013). Use your knowledge of strategic planning to select the word or phrase that best completes the following sentence When conducting a SWOT analysis, budgets, ratios, and sales reports can be...
Discussion Board 1 1. Why is strategic Planning important for healthcare planning? 2. Briefly give an example of when a need assessment is required 3. There are different methods of gathering information for needs assessment. Which of the methods appeal most to you and why?
1. How does strategic planning influence day-to-day business operations? Why is it important for systems analysts to understand a company’s strategic plan? 2. What is a SWOT analysis? Prepare a SWOT analysis of your school or your employer. 3. What is an effective way to assess user requests for additional features and functions? 4. What is project scope? What are constraints? Provide an example of a mandatory, external, future constraint. Also provide an example of a discretionary, internal, present constraint.
QUESTION 16 True or False? The state health department is creating a strategic plan to help determine the need for a childhood obesity program. They identify that the department's workforce is highly committed. This is an example of an opportunity in terms of SWOT analysis True O False QUESTION 17 True or False? Key issue analysis is a way an organization can plan for significant and relevant events that would influence the strategic plan. True False QUESTION 18 True or...
The course decomposes the subject of Strategic Business Management into 3 components: 1. Strategy 2. People 3. Delivery The assignment is to address each of these in turn, specifically addressing the following 3 questions: . 1. How do you stress-test a strategic plan? 2. What are the preconditions to an engaged workforce? 3. Why do disconnects arise between the creation and execution of strategy?
(IN YOUR WORDS ) answer in details : 1. Why is strategic management important? 2.ROLEX Watches targets smaller segments and niche customers rather than the entire market. What is the competitive strategy that ROLEX Watches follows? What other companies follow this strategy? 3.What influential factors do we take into account when discussing external analysis of organizational strategy? What do they represent? Please make sure the answer is correct 100%
1. Are strategic management and strategic planning synonymous terms? Explain in detail. 2. As cited in the chapter, famous businessman Edward Deming once said, "in God we trust, all others bring data." what did Deming mean in terms of developing a strategic plan? Explain in detail. 3. List three internal strengths and three internal weaknesses that characterizes SSU. Explain in detail, give examples and discuss how the strengths could be utilized to increase competitive advantage and how to fix the...
Question 5 1 pts Which level of management is most dependent on external information? operations middle strategic None of these are dependent on external information.
1. What are the responsibilities of top management and leaders in relation to corporate governance and strategic planning? What are the benefits of strategic management? 2. What are the roles and responsibilities of the board of directors? Please provide an example of a board of directors that did or did not meet its responsibilities to the company. 3. Explain the Sarbanes-Oxley Act and its impact on corporate governance. How has it changed the way leaders do business in the United...
Management & Organization for your Grapefruit Product Private Limited Company. Create a management plan for your company: List the key members of your management team, with a brief description of each person’s relevant business background, responsibilities they have in your company, and the compensation they receive. • Key Management and Employees: • Board Members and Advisors: • Management Structure and Style 1) Management Hierarchy • Using the flow chart, outline your Grapefruit Product Private Limited Company’s management hierarchy. • You...