strama - mabisa

Internal audits 2

aim to identify areas for improvement and provide recommendations to enhance and effectiveness

Organizational culture 2

A pattern of basic assumptions that are considered valid and that are taught to new members as the way to perceive, think and feel in the organization.

Change Management 2

culture that values adaptability and innovation 

Management 25

a set of principles relating to the functions of planning, organizing, directing and controlling, and the application of these principles in harnessing physical, financial, human and informational resources efficiently and effectively to achieve organizational goals.

Organizing 2

involves structuring an organization to efficiently achieve goals, including assigning tasks, creating departments, allocating resources, and establishing clear lines of authority and responsibility.

Staffing 24

involves acquiring, developing, and maintaining an effective workforce by focusing on recruitment, selection, training, performance evaluation, and compensation.

Distribution 2

This function focuses on getting products or services to customers efficiently and effectively, through channels like retail stores, online platforms, or direct sale

Management Information System 2

system receives raw material from both the external and internal evaluation of an organization.

Value Chain Analysis 235

is a strategic tool that examines all activities involved in creating and delivering a product or service, from raw materials to the customer, to identify areas for improvement and gain a competitive advantage.

Benchmarking 2

in business is a process of comparing your company's performance, processes, and products against industry leaders or competitors to identify areas for improvement and achieve competitive advantages.

Benchmarking 23

is an analytical tool used to determine whether a firm's value chain activities are competitive compared to rivals and thus conducive to winning in the marketplace.

An External Assessment 2345

• also known as environmental analysis, involves identifying and analyzing factors outside the organization that could impact its performance, such as economic, social, technological, and competitive trends, to identify opportunities and threats. 

• is a systematic process of examining the external environment of a business to identify opportunities and threats.

Porter's Five Forces 2

Analyze industry rivalry, potential new entrants, substitute products, supplier power, and buyer power.

Competitive Profile Matrix (CPM) 23

A tool to compare a company's strengths and weaknesses against those of its competitors.

Exchange Rates 2

Fluctuations can affect the cost of imported goods and the competitiveness of exports, impacting international businesses.

Governmental Forces 2

focus on the role of government in shaping the business environment, including regulations, oversight, and enforcement.

Technological forces 2

encompassing innovation and advancements in technology, significantly impact strategic management by influencing how businesses operate, compete, and adapt to changing market conditions.

Information and Communication 2

Technologies like the internet, mobile apps, and cloud computing enable faster

RESOURCE SIMILARITY 2

is about how alike a firm's resources are to their competitors.

BARGAINING POWER OF CONSUMERS 2

consumers also are higher when the products being purchased are standard or undifferentiated.

CPM 2

identifies a firm's major competitors and its particular strengths and weaknesses in relation to a sample firm's strategic position.

Vision statement 2

A vision statement inspires your staff and directs your business as it expands

COMPETITIVE ADVANTAGE 235

is a characteristic that allows a company to outperform its rivals, leading to a better market position and potentially higher profits. It's about creating value that competitors find difficult to replicate.

VISION 3

A vision statement inspires your staff and directs your business as it expands.

GOVERNMENT FORCES 3

focus on the role of government in shaping the business environment, including regulations, oversight, and enforcement.

RESOURCE SIMILARITY 3

is about how alike a firm's resources are to their competitors.

QUANTITATIVE FORECASTS I/O 3

It emphasizes the importance of understanding and analyzing the external environment, including industry structure, competitive forces, and market trends.

EXTERNAL AUDIT 35

Involves an independent auditor verifying a company's financial statements, ensuring compliance with accounting standards and regulatory requirements, and providing an opinion on their fairness.

External Factor Evaluation Matrix (EFEM) 3

 A tool to evaluate the external environment and identify opportunities and threats.

ORGANIZATIONAL PERFORMANCE 34

refers to an organization's ability to achieve its goals and objectives, encompassing various aspects like financial outcomes, operational efficiency, and employee engagement.

MARKET-BASED ANALYSIS 3

this analysis helps determine how tje firm compare to its competitors in the market.

MOTIVATING 3

It means providing incentive or prompting someone to take action, whether through words, actions, or situations.

PLANNING 3

It bridges the gap between the present and the desired future state of the organization, providing direction and purpose.

Resource-Based View (RBV) 3

encourages organizations to analyze and leverage their internal strengths to gain a sustainable competitive edge

Internal Factor Evaluation (IFE) Matrix 3

is a strategic management tool used to assess an organization's internal strengths and weaknesses, helping businesses identify areas for improvement and capitalize on existing capabilities.

Production/operations management 3

deals with inputs, transformations, and outputs that vary across industries and markets.

Marketing research 3

is the systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services.

Customer analysis 3

is a process of gathering and analyzing data about customers, both current and potential, to gain insights into their needs, behaviors, and preferences.

MARKETING 3

The Marketing Concept is preoccupied with the idea of satisfying the needs of the customer by means of the product, as a solution to the customer's problem (needs).

Social, Cultural, Demographic, And Natural Environment Forces 3

Is extremely important as these external factors significantly influence an organization's opportunities and threats, impacting its strategic decisions and overall success.

Making Assumptions 3

Planning assumptions would be impossible without assumptions.

The financing decision 3

determines the best capital structure for the firm and includes examining various methods by which the firm can raise capital

Organizing 45

It ensures that resources (human, physical,financial) are effectively deployed, arranged,and coordinated to implement plans and achieve organizational objectives.

Marketing research 4

is the systematic gathering,recording, and analyzing of data about problems relating to the marketing of goods and services.

Selling products /services function 4

focuses on directly interacting with customers to persuade them to purchase products or services.

Mission 4

defines what your organization does and what you stand for.

ORGANIZATIONAL PERFORMANCE 4

refers to an organization's ability to achieve its goals and objectives, encompassing various aspects like financial outcomes, operational efficiency, and employee engagement.

THE BALANCED SCORECARD 4

is a strategic management tool that provides a comprehensive view of organizational performance by considering financial, customer, internal processes, and learning & growth perspectives, helping organizations align activities with their strategic goals.

Profitability Ratios: 4

Assess the firm's ability to generate profits

Liquidity Ratios: 4

Evaluate the firm's ability to meet short-term obligations

Solvency Ratios: 4

Assess the firm's ability to meet long-term obligations

Market Value Ratios: 4

Compare a company's stock price to its book value, to determine if a stock is under or overpriced.

CONCEPT OF ECONOMIC VALUE CREATION (EVC) 4

Is the difference between what a customer is willing to pay (WTP) for a product and the cost incurred to produce the product

COMPETITIVE ADVANTAGE 4

It is something that cannot be easily replicated and is exclusive to a company or business.

Direct Relationship 4

relationship between economic value creation (evc) & competitive advantage

External Factor Evaluation Matrix (EFEM) 4

A tool to evaluate the external environment and identify opportunities and threats.

The Industrial Organization (I/O) 4

view of Michael Porter, contends that organizational performance is determined by industry forces.

Social and Cultural Forces 4

These encompass societal values, beliefs, customs, and lifestyles, which shape consumer behavior and preferences.

Legal Forces 4

It encompass laws and legal frameworks that govern business activities, including contract law, intellectual property, and consumer protection.

MARKET COMMONALITY 4

is the extent to which firms compete in the same markets, offering similar products or services to similar customers.

Competitive Profile Matrix (CPM) 45

• helps organizations understand their competitive landscape and identify areas where they excel or lag behind their competitors.

• compares a company's performance against its competitors based on these critical success factors, providing a clear picture of their relative strengths and weaknesses.

  
  

SETTING GOALS 5

is crucial to managing a successful organization.

PERFORMANCE MEASURE 5

a data-driven metric used to assess the effectiveness and efficiency of an agency, activity, or organization in achieving its objectives and goals.

PERFORMANCE MEASUREMENT 5

It is a systematic approach to collecting, analyzing and evaluating how "on track" a project/program is to achieve its desired outcomes, goals and objectives

THE TRIPLE BOTTOM LINE (TBL) 5

is a sustainability framework that encourages organizations to consider PEOPLE (making sure that the actions of the organization are socially responsible), PLANET (making sure organizations act in a way that promotes environmental sustainability), and PROFIT (Traditionale organization purpose) when making decisions, rather than solely focusing on financial performance.

THE INDUSTRIAL ORGANIZATION (I/O) VIEW 5

It emphasizes the importance of understanding and analyzing the external environment, including industry structure, competitive forces, and market trends.

DEMOGRAPHIC FORCES 5

These relate to the characteristics of a population, such as age, gender, income, education, and occupation.

NATURAL ENVIRONMENT FORCES 5

These involve ecological factors, including climate change, resource availability, and environmental regulations.

MARKET COMMONALITY 5

refers to the degree to which two or more firms operate in the same or overlapping markets, which influences their competitive dynamics and potential for rivalry.

RESOURCE-BASED VIEW 5

encourages organizations to analyze and leverage their internal strengths to gain a sustainable competitive edge

RIVALRY AMONG COMPETING FIRMS 5

is usually the most powerful of the five competitive forces.

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STAFFING 5

It ensures the right people are in the right roles to achieve organizational goals.

PRODUCT AND SERVICE PLANNING 5

includes activities such as test marketing; product and brand positioning; devising warranties; packaging; determining product options, features, style, and quality; deleting old products; and providing for customer service.

PRICING 5

• This function focuses on determining the right price for products or services, considering factors like costs, competition, and customer value.

• Five major stakeholders affect pricing decisions: consumers, governments, suppliers, distributors, and competitors.

• Sometimes an organization will pursue a forward integration strategy primarily to gain better control over prices charged to consumers.

MANAGEMENT INFORMATION SYSTEM 5

its purpose is to improve the performance of an enterprise by improving the quality of managerial decisions.

FINANCIAL RATIO ANALYSIS 5

is the most widely used method for determining an organization's strengths and weaknesses in the investment, financing, and dividend areas.

PERFORMANCE MEASUREMENT 5

is the process used to assess the efficiency and effectiveness of projects, programs and initiatives.