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Strategic leadership
________: the ability of top management to convey a compelling vision of what they want to achieve to subordinates.
Coordination
________: ensures that all managers within organization all pull is same direction towards future desired state.
differentiation
Using ________ or cost- leadership (or both) is the to adapt to market changes.
Accuracy
________: collect and use all available information in the planning process.
cluster of decisions
Strategy: ________ and actions that managers take to help an organization attain its goals.
Department
________ /function level: functional managers responsible for planning and strategy- making necessary to increase efficiency and effectiveness within their function (e.g.
Participation
________: allows managers to ________ in decision- making about appropriate goals and strategies.
Level of rivalry
________: increased competition results in lower profits.
Flexibility
________: plans can be altered and changed if the situation changes.
Porters
________ Five Forces model: used to analyze potential profitability of entering and competing within a particular industry.
Vision
________: reveals "big picture "of organization, its dream for future.
Business level strategy
________: specific methods a division will use to compete effectively against rivals in industry.
SWOT analysis
________: identifies organizational strengths (S), weaknesses (W), opportunities (O) and threats (T)
external environment
Rolling plan: updated and amended every year to reflect changes in the ________.
Crisis management plans
________: formulated to deal with possible future crises.
Substitutes
________: more available substitutes tend to drive prices and profits lower.
Organizational plan
________: results from the planning process and details goals of the organization and specifies how managers intend to attain them.
Scenario contingency planning
________: generation of multiple forecasts of future conditions followed by an analysis of how to respond effectively to each of those conditions.
Corporate level strategy
________: plan of action concerning which industries and countries an organization should invest its resources in.
Strategy formulation
________: analysis of an organizations current situation followed by the development of strategies to accomplish the mission and achieve goals.
Gantt chart
________: graphic bar chart used to schedule tasks, responsibilities and timelines.
Plan of action
________ to improve ability of each department to create value consistent with corporate- and business- level strategies.
Corporate level
________: top managers responsible for planning and strategy- making for organization as a whole.
Power of customers
________: if there are only a few large buyers, they can bargain down prices.
Business level
________: divisional managers responsible for planning and strategy within their particular division or unit.
business level strategy
Divisions ________ and structure necessary to achieve divisional goals.
Differentiation
________: managers gain a competitive advantage by distinguishing an organizations products from competitors in dimensions such as:
Corporate level strategy
________: specifies in which industries and national markets an organization intends to compete and why.
Business level strategy
________: plan to gain a competitive advantage in particular market or industry.
Planning
process that managers use to identify and select suitable goals and courses of action for an organization
Organizational plan
results from the planning process and details goals of the organization and specifies how managers intend to attain them
Strategy
cluster of decisions and actions that managers take to help an organization attain its goals
formulate a strategy
corporate, business, and functional levels
implement the strategy
assign responsibility and allocate resources
evaluate the strat
what measures of success will be used
Vision statement
broad declaration of the big picture of the organization and/or a statement of its dreams for future
Mission statement
broad declaration of purpose that identifies the organization's products and customers and distinguishes the organization from competitors
Direction & purpose
what goals organization is trying to achieve and strategies to achieve them
Participation
allows managers to participate in decision-making about appropriate goals and strategies
Coordination
ensures that all managers within organization all pull is same direction towards future desired state
Control
specifies who is responsible for putting the strategies into action to achieve the goals
Unity
at any time only one central, guiding plan is put into operation to achieve an organizational goal
Continuity
an ongoing process in which managers build and refine previous plans
Accuracy
collect and use all available information in the planning process
Flexibility
plans can be altered and changed if the situation changes
Corporate level
top managers responsible for planning and strategy-making for organization as a whole
Business level
divisional managers responsible for planning and strategy within their particular division or unit
Department / function level
functional managers responsible for planning and strategy-making necessary to increase efficiency and effectiveness within their function (e.g
top level managers
corporate level plans , long term
middle managers
tactical plans, business plans
first line managers
short term, functional procedures
Corporate level plan
top managements decisions concerning organizations mission and goals, overall trategy and structure
Corporate-level strategy
specifies in which industries and national markets an organization intends to compete and why
Business level strategy
specific methods a division will use to compete effectively against rivals in industry
Functional-level plan
states goals that managers of each function will pursue to help division attain business-level goals to support achievement of corporate goals
Functional-level strategy
plan of action that managers of individual functions follow to improve the ability of each function to perform task-specific activities to
Long-term
five years or more
Intermediate-term
between one and five years
Short-term
one year or less
Rolling plan
updated and amended every year to reflect changes in the external environment
Standing plans
used where programmed decision making is appropriate
Single-use plans
developed to handle non-programmed decision making in unusual situations
Planning
5 Step Process
Strategy formulation
analysis of an organizations current situation followed by the development of strategies to accomplish the mission and achieve goals
SWOT analysis
identifies organizational strengths (S), weaknesses (W), opportunities (O) and threats (T)
level of rivalry
increased competition results in lower profits
potential for entry
easy entry leads to lower prices and profits
power of customers
if there are only a few large buyers, they can bargain down prices
substitutes
more available substitutes tend to drive prices and profits lower
Corporate-level strategy
plan of action concerning which industries and countries an organization should invest its resources in
Business-level strategy
plan to gain a competitive advantage in particular market or industry
Cost leadership
managers gain a competitive advantage by driving down organizational costs
Differentiation
managers gain a competitive advantage by distinguishing an organizations products from competitors in dimensions such as
Exceptions to rule
in some organizations, managers drive down costs while differentiating their products
Focused low-cost
serving only one segment of the market and being the lowest-cost organization in that segment
Focused differentiated
serving only one segment of the market and trying to be the most differentiated organization serving that segment
Plan of action to improve ability of each department to create value consistent with corporate
and business-level strategies
The balanced scorecard (BSC)
a way to track and measure progress toward goals from a number of perspectives
Note 
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