CBAC102 - PRELIMS Enumeration

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7 Terms

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  1. Environmental Scanning

  2. Strategy Formulation

  3. Strategy Implementation

  4. Evaluation and Control

Basic Model of Strategic Management

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  1. Rare

  2. Consequential

  3. Directive

Strategic Decision-Making Characteristics

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  1. Entrepreneurial Mode

  2. Adaptive Mode

  3. Planning Mode

  4. Logical Incrementalism

Minztberg’s Modes or Approaches of Strategic Decision-Making

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  1. Basic Financial Planning

  2. Forecast Based Financial Planning

  3. Externally Oriented Strategic Planning

  4. Strategic Management

Phases of Strategic Management

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  1. Evaluate current performance results

  2. Review corporate governance

  3. Scan and assess the external environment

  4. Scan and assess the internal environment

  5. Analyze strategic (SWOT) factors

  6. Generate, evaluate, and select the best alternative strategies

  7. Implemented selected strategies

  8. Evaluate implemented strategies

8 Steps of Strategic Decision-Making Process

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  1. Natural Environment

  2. Societal Environment

  3. Task Environment

Environmental Scanning

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  1. Economic Forces

  2. Technological Forces

  3. Political Forces

  4. Socio-cultural Forces

Societal Environment