CBAC102 - PRELIMS

Strategic Management

a set of managerial decisions and actions that determines the long-run performance of a corporation

Environmental Scanning

the monitoring, evaluating, and disseminating of information from external and internal environments to key people within corporation

Strategy Formulation

the development of long range plans for the effective management of environmental opportunities and threats, in light of corporate strengths and weaknesses

Corporate Strategy

describes a company’s overall directions in terms of its general attitude toward growth and the management of its various businesses and product lines

Business Strategy

occurs at the business unit or product level and it emphasizes improvement of the competitive position of a corporations’ products and services in the specific industry served by that business unit

Functional Strategy

the approach taken by a functional area to achieve corporate and business unit objectives and strategies by maximizing resource productivity

Strategy Implementation

a process by which strategies and policies are put into action through the development of programs, budgets, and procedures

Programs

statement of activities or steps needed to accomplish a single-use plan

Budget

detailed costs of each program

Procedures

are a system of sequential steps or techniques that describe in detail how a particular task or job is to be done

Evaluation and Control

a process in which corporate activities and performance results are monitored so that actual performance can be compared with desired performance

Rare

needs knowledge, enhancement, and innovation from the company’s manpower

Consequential

all levels in the organization is committed in the implementation

Directive

difference in the interpretation

Entrepreneurial Mode

the focus is on opportunities, problems are secondary

Adaptive Mode

characterized by reactive solutions to existing problems, rather than proactive search for new opportunities

Planning Mode

involves the systematic gathering of appropriate information for situational analysis, the generation of feasible alternative strategies and the rational selection of the most appropriate strategies

Logical Incrementalism

a synthesis of the planning, adaptive, and to a lesser extent of the entrepreneurial modes

Forecast Based Financial Planning

looks at the historical data and trend

Externally Oriented Strategic Planning

external consultation

Environmental Scanning

Natural Environment, Societal Environment, Task Environment

Societal Environment

general forces that influences its long run performance

Task Environment

includes those elements/groups that directly affect a corporation and in turn are affected by it

Steep Analysis

also called PESTEL Analysis

STEEP Analysis

scanning of socio-cultural, technological, ecological, and political-legal environment