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D073 practice for oa with complete solutions
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D073 practice for oa with complete solutions Mission statement - ✔✔ What we are doing (has objectives that are measurable) i.e what will be accomplished when will it be done how much will nbe... done Strategy - ✔✔ Also called an action plan is developed to achieve a vision strategic management process - ✔✔ 4 step process to pursue a vision strategic objective strategic formulation strategic implementation strategic evaluation Strategic objectives | & analysis - ✔✔ This is an evaluation. An evaluation that is best used with swot and pestle to help bridge the gap of long term visions and short term decisions. Strategic formulation - ✔✔ This step writes the goals and objectives based on the information obtained from SWOT & pestle swot - ✔✔ internal investigation to analyze strengths and weaknesses as well as external appraisal of competitors pestle - ✔✔ politics,economic,social,technology,legal,environmental evaluation that may effect a companies strategy strategic implementation - ✔✔ This is where the planning stops, often called strategic execution should give training and allocate resources success often comes from proper tools and personal motivation strategic evaluation | & control - ✔✔ Where performance measures are taken because this stage is crucial. If it becomes apparent that the strategy is not working according to plan, then new plans need to be formulated (see step 2) or organizational structures adjusted. Personnel may need to be retrained or shifted to other duties. The strategic management process may need to be reexamined or even redeveloped.2 [Show More]
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