strama - all

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

Internal audits 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.

Organizational culture 2

culture that values adaptability and innovation 

Change Management 2

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.

Management 25

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

Organizing 2

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

Staffing 24

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

Distribution 2

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

Management Information System 2

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.

Value Chain Analysis 235

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 2

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.

Benchmarking 23

• 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.

An External Assessment 2345

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

Porter's Five Forces 2

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

Competitive Profile Matrix (CPM) 23

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

Exchange Rates 2

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

Governmental/Government Forces 23

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

Technological forces 2

Technologies like the internet, mobile apps, and cloud computing enable faster and more efficient communication, collaboration, and data sharing.

Information and Communication 2

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

RESOURCE SIMILARITY 2

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

BARGAINING POWER OF CONSUMERS 2

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

CPM 2

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

Vision statement 2

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.

COMPETITIVE ADVANTAGE 235

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

THE INDUSTRIAL ORGANIZATION VIEW 3

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 AUDIT 35

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

External Factor Evaluation Matrix (EFEM) 3

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

ORGANIZATIONAL PERFORMANCE 34

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

MARKET-BASED ANALYSIS 3

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

MOTIVATING 3

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

PLANNING 3

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

Resource-Based View (RBV) 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.

Internal Factor Evaluation (IFE) Matrix 3

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

Production/Operations management 3

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

Marketing Research 3

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

Customer analysis 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).

MARKETING 3

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

Social, Cultural, Demographic, And Natural Environment Forces 3

Planning assumptions would be impossible without ________.

Making Assumptions 3

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

The financing decision 3

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

Organizing 45

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

Selling products/services function 4

defines what your organization does and what you stand for.

Mission Statement 4

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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.

THE BALANCED SCORECARD 4

Assess the firm's ability to generate profits

Profitability Ratios: 4

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

Liquidity Ratios: 4

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

Solvency Ratios: 4

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

Market Value Ratios: 4

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

CONCEPT OF ECONOMIC VALUE CREATION (EVC) 4

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

COMPETITIVE ADVANTAGE 4

relationship between economic value creation (evc) & competitive advantage

Direct Relationship 4

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

The Industrial Organization (I/O) 4

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

Social and Cultural Forces 4

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

Legal Forces 4

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

MARKET COMMONALITY 4

• 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.

  
  

Competitive Profile Matrix (CPM) 45

is crucial to managing a successful organization.

SETTING GOALS 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 MEASURE 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

PERFORMANCE MEASUREMENT 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 TRIPLE BOTTOM LINE (TBL) 5

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

DEMOGRAPHIC FORCES 5

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

NATURAL ENVIRONMENT FORCES 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.

MARKET COMMONALITY 5

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is usually the most powerful of the five competitive forces.

RIVALRY AMONG COMPETING FIRMS 5

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

STAFFING 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.

PRODUCT AND SERVICE PLANNING 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.

PRICING 5

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

MANAGEMENT INFORMATION SYSTEM 5

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

FINANCIAL RATIO ANALYSIS 5

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

PERFORMANCE MEASUREMENT 5

It 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.

Competitive Advantage

It is basically a ratio analysis; being able to make “apple to apple” comparisons between firms or annual trends that account for variable volumes, sales, expenses, and profits

Financial Analysis

It is the process of measuring and analyzing an organization’s performance of products, services, operations, and oth\er business processes against other companies, competitors, or industry leaders

Performance benchmarking

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

Vision Statement

A type of forecast that is more appropriate when historical data are available and when the relationships among key variables are expected to remain the same in the future.

Quantitative forecasts

It examines how comparable a firm's resources (both tangible and intangible assets) are to those of a competitor, considering both the types of resources and the amounts possessed.

Resource Similarity

One of the forces that encompass government policies, political stability, and the overall political climate that can influence business operations.

Political Forces

It is one of the tools and techniques that Examine political, economic, social, technological, environmental, and legal factors.

PESTEL Analysis

It is often analyzed through Porter's Five Forces, helps organizations assess their industry's attractiveness and develop effective strategies.

Competitive Forces

It was popularized by Michael Porter, involves breaking down a company's operations into distinct activities and analyzing how each contributes to the overall value proposition

Value Chain Analysis

Is a function of a business consists of all those activities that transform inputs into goods and services.

The Production/operation

These decisions on production/ operation involve managing the skilled, unskilled, clerical, and managerial employees by caring for job design, work measurement, job enrichment, work standards, and motivation techniques.

Workforce

is often considered the single best measure of a firm’s competitive position and overall attractiveness to investors.

Financial Condition

also called capital budgeting, is the allocation and reallocation of capital and resources to projects, products, assets, and divisions of an organization.

Investment decision

is a function of marketing that involves assessing the costs, benefits, and risks associated with marketing decisions.

Cost / Benefit Analysis

Consumers, governments, suppliers, distributors, and competitors affect pricing decisions. They are called _______

Major Stakeholders

is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Marketing

is the primary function of management, focusing on looking ahead and deciding what needs to be done, how it will be done, and who will do it.

Planning

According to __________________, ‘Management is an art of getting things done through and with the people in formally organized groups. It is an art of creating an environment in which people can perform, and individuals can co-operate towards attainment of group goals.‘

Harold Koontz

__________ encompassing shared values, beliefs, and behaviors, significantly impacts strategic management by influencing how strategies are formulated, implemented, and ultimately, how successful they are.

Organizational Culture

Improved Efficiency: Reduced Risks: Enhanced Compliance: Stronger Controls: Improved Decision-Making are called _______

Benefits of Internal Audit