ML, superwoman.
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ML, superwoman. - Leaderboard
ML, superwoman. - Details
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36 questions
🇬🇧 | 🇬🇧 |
The characteristics of strategic decision? | Strategic management > Strategic decisions. - Strategic Issues that require top management decisions - Issues that require large amounts of organisations resources - Issues which affect the organisations long-term prosperity - Issues which are future orientated - Issues with multi-functional consequences - Issues requiring consideration of the organisations external environment |
Levels of decision making? | Strategic - Strategic resource planning Tactical - Project selection & capacity planning Operational - Resources constrained project scheduling & resource allocation |
Features of strategic decisions? | - Change - Integration - Disintegration - Risk - Operational - Tactical - Uncertainty - Complication - Complicity - Relationship - Partners |
Things to consider in external strategic planning? | - Political - Economy - Climate - Technology - Media - Fashion - Competition - Legal |
The three organisational terms/objectives? | Long, medium & short. |
Eight steps to successful change? | 1. Establish a sense of urgency 2. Create a guiding coalition 3. Develop a clear shared vision 4. Communicate the vision 5. Empower people to act on the vision 6. Create short term wins 7. Consolidate & build on the gains 8. Institutionalise the change |
Things to consider in internal strategic planning? | - Structure - Culture - Human Resources - Profit & Cash flow - Management - Physical assets |
Some general organisational objectives? | - Customer loyalty - Market leadership - Commitment to employees - Leadership capacity - Global citizen |
The FIVE P's of strategy? | - Plan - Perspective - Ploy - Position - Pattern |
The FOUR factors that are crucial for organisation positioning? | - Environment - Opportunities - Capability - Stake holders expectation - Historical or cultural influences |
In regards to the organisation environment - what is STEEPLED? | - Social (income, labour, attitude of public towards work/leisure) - Technological (emerging tech, people's attitude) - Economic (tax, inflation, major/minor industry) - Environmental (sustainability, plants. wildlife, recycling/disposal) - Political (governmental structure, stability of parties involved, international agreements) - Legislative (unions and laws for employment) - Ethical (reputation, impact) - Demographic (diversity, age, gender, population shifts) |
What are the risk to consider with rivalry companies? | - Supplier power - Buyer power - Threat of new entrants - Threat of substitutes |
Two different market scope? | - Niche market - Total market |
Stakeholder expectations - what's the corporate social responsibility? | - Market - Ethics - Sustainability - Resources - Goal - Long term - Sincerity - Responsibility |
Internal stakeholders of company consist of who? | - Employees - Manager - Owners |
External stakeholders of company consist of who? | - Suppliers - Society - Customers - Creditors - Government - Shareholders |
Strategy format to consider in strategic choices? | - What is our aspiration? - Where will we play and where we will not - How will we win - Which capabilities need to be in place - What management systems must be established |
What factors of strategy in action(strategic implementation) | - Suitability - Acceptability - Feasibility |
TWO types of strategy in action? | Intended strategies (formal planning & decision making based on environment, planning systems, developed by managers) Emergent strategies (decision made within organisation over time, in response to the market place factors) |
The four use of benchmarking? | 1. Internal - large corporation to compare within organisation. 2. Competitor - Competitive industry - key areas of organisation. 3. Functional - Comparison of high functional performance. Customer supplies, etc. 4. Generic - Business processes, transfer of knowledge across industry |
The process of benchmarking? | 1. PLAN 2. SEARCH 3. OBSERVE 4. ANALYSE 5. ADAPT |
Advantages of benchmarking? | - Improvement in process - Improved quality and productivity - Provides opportunity to learn from other - Inspires creativity - Places focus on change |
Disadvantages of benchmarking? | - Doesn't really measure effectiveness - Often treated as a solo activity - Often a certain level of complacency - Change of using the wrong method of benchmarking - Can foster mediocrity |
Devising metric of performance. | Feeback - (info, new ideas, expertise & customer feedback) Input - (materials, components, labour, research and development) Processing - (production lines, assembly lines, management and skills) Output - (end product, customer satisfaction and employee satisfaction) - Measured success by: 1. Quantity 2. Quality 3. Cost 4. Time |
Basic SLA element? | - Overall objectives - Description of services - Performance standards - Compensation/service credits - Critical failure |
What is SMARTER. | Specific Measurable Attainable Relevant Time based Educated Responsible |
Performance monitoring & review types? | - Continuous monitoring - Periodic monitoring and review - Post completion review |
The balanced scorecard. | Business requirements - General - Technical - Contract management - Customer service & support - Marketing - Sales - Vendor rating (out of 100) |
The business excellence model (EFQM) | ENABLERS - Leadership > people > strategy > partnerships & resources. RESULTS - People results - Customer results - Society results - Business results |
The DMAIC Cycle & what is it used for/to identify? | Define Measure Analize Improve Control Enhancing command chain. To improve supply chain quality. |
Pricing strategies. | High entry price > over time > price skimming Low entry price > over time > penetration pricing |
The cycles of competition | - Hyper competitive - Multipoint competition |
Advolarem & Specific together. | Compound Tariff |
World Trade Org. (1995) Service controls exercised by industry regulators & international bodies? | - Non-discrimination - Reciprocity - Binding & enforceable commitments - Transparency - Safety valves |