2487195
Description
Flashcards by Luzelda Maré, updated more than 1 year ago
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Created by Luzelda Maré
about 9 years ago
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| Question | Answer |
| Intro to SM | 1. Managers should realise they can influence the competitive landscape 2. Managers, must view the world how it could be, & not how to improve what is |
| Transformations that influence business models & strategists | 1. Expansion of available strategic space 2. Business will be global 3. Speed will be critical 4. Innovation as the new source of competitive advantage |
| People involved in the SM process | 1. Environmental Analysis (every manager @ every level) 2. Strategy Formulation (mainly top management) 3. Strategy Implementation (all levels of employees (4). Strategic Management Champions) |
| SMC's | Can be regarded as a specific type of strategy practitioner who is capable of making & eager to make a difference through SM 1. Social craftsperson 2. Artful interpreter 3. Known stranger |
| Strategic Management Process SMP | (1) Strategic Visualisation 1. Environmental Analysis (SWOT) 2. Strategy Formulation (grand strategies) 3. Strategy Implementation (driving forces) |
| Functional Aspects = benefits | 1. Higher profits - 2. Productivity 3. Effective time - 4. Resource management 5. Improved Communication 6. Empowerment 7. Sense of Responsibility & Discipline 8. Strategic Management |
| Dysfunctional Aspects - Risks | 1. Specific Goals 2. Uncertain chain of implementation 3. Culture of change 4. Time 5. Negative perceptions of SM 6. Unrealistic expectations 7. Success groove |
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