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Chapter 8 Planning & Strategy Planning & StrategyPlanning Identify appropriate goals & courses of actionStrategyThe cluster of decisions and actions that managers take to help an organization reach its goals. Three Steps of Planning Process Mission & GoalsDefining the BusinessWho are our customers?What customer needs are being satisfied?How are we satisfying customer needs Establishing Major GoalsProvides the organization with a sense of directionStretches the organization to higher levels of performance.Goals must be challenging but realistic with a definite period in which they are to be achieved. Corporate-LevelPlanTop management’s decisions pertaining to the organization’s mission, overall strategy, and structure.Provides a framework for all other planning.Strategywhich industries and national markets an organization intends to compete. Business-LevelPlanDivisional managers’ decisions pertaining to divisions long-term goals overall strategy, and structure.Identifies how the business will meet corporate goals.Strategyhow a division intends to compete against its rivals Functional-LevelPlanFunctional managers’ decisions pertaining to the goals to help the division attain its goals.Functional StrategyA plan that indicates how a function intends to achieve its goals. Time HorizonsThe intended duration of a plan.Long-term plans are usually 5 years or more.Intermediate-term plans are 1 to 5 years.Short-term plans are less than 1 year.Corporate and business-level goals and strategies require long- and intermediate-term plans.Functional plans focus on short-to intermediate-term plansMost organizations have a rolling planning cycle Standing PlansUse in programmed decision situationsPolicies are general guides to action.Rules are formal written specific guides to action.Standard operating procedures (SOP) specify an exact series of actions to follow.Single-Use PlansDeveloped for a one-time, nonprogrammed issue.Programs, Projects Why Planning is ImportantFacilitate participation in decision makingGive organization a sense of purposeHelps coordinate different functions & divisionsServes as a control mechanism Scenario PlanningContingency plans“What if” analysesMultiple forecasts of potential scenariosPlans to respond to each scenarioNecessary because organizational environments are unpredictable. Strategy FormulationSWOT AnalysisStrengthsWeaknessesOpportunitiesThreats The Five Environmental Forces Competitive Forces Level of Rivalry Increased competition results in lower profits.Potential for Entry Easy entry leads to lower prices and profits. Power of Suppliers If there are only a few suppliers of important items, supply costs rise. Power of Customers If there are only a few large buyers, they can bargain down prices. Substitutes More available substitutes tend to drive down prices and profits. Corporate-Level StrategiesAimed at growing the company, producing more goods & services, respond to threatsThree ...
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International Nurses' Day is 12 May. See some of our resources ranging from histories of hospitals and organisations to personal recollections and diaries.
It will be International Nurses' Day on 12 May
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The RSA Conference serves as a significant platform for cybersecurity experts and vendors, to explore cutting-edge innovations in the cybersecurity field. Reach out to your target audience with our RSA Conference Exhibitor List 2024!
RSA Conference Exhibitor List 2024 - Exhibitors Data
RSA Conference Exhibitor List 2024 - Exhibitors Data
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PHX May 2024 Corporate Presentation Final
PHX May 2024 Corporate Presentation Final
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Business Model Canvas (BMC)- A new venture concept
P&CO
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Falcon Invoice Discounting: The best investment platform in india for investors
Falcon Invoice Discounting: The best investment platform in india for investors
Falcon Invoice Discounting
Organisational success today depends on effective communication and collaboration with individuals from cultures with varying beliefs and practices. Indeed, with the workforce increasingly comprised of people of varying cultural backgrounds, leaders must now prioritise the significance of cultural competence in the workplace. Ensuring cultural competence at every level of your organisation cannot be understated. While cultural disparities can manifest in different ways, as a leader, you must build deep and nuanced cultural competence skills and education to accurately spot, address and alleviate the various scenarios that can arise. Failing to recognise the importance of cultural competence or not acting to improve it can lead to cultural negligence. There are a few things to consider to ensure your organisation is on the right track. In this deck, you'll understand the importance of building cultural competence in the workplace. You'll also learn • The three (3) dimensions of Cultural Competence in the workplace • Key strategies to build a culturally competent workforce • Major benefits you stand to gain by having a culturally competent team.
Cracking the Cultural Competence Code.pptx
Cracking the Cultural Competence Code.pptx
Workforce Group
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Robert Gifford; JOUR 414 Capstone
Famous Olympic Siblings from the 21st Century
Famous Olympic Siblings from the 21st Century
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Falcon's Invoice Discounting: Your Path to Prosperity
Falcon's Invoice Discounting: Your Path to Prosperity
hemanthkumar470700
https://www.productmanagementtoday.com/frs/26795801/the-path-to-product-excellence--avoiding-common-pitfalls-and-enhancing-communication In the fast-paced world of digital innovation, success is often accompanied by a multitude of challenges - like the pitfalls lurking at every turn, threatening to derail the most promising projects. But fret not, this webinar is your key to effective product development! Join us for an enlightening session to empower you to lead your team to greater heights. Through compelling storytelling and actionable insights, learn to overcome challenges like misaligned objectives, communication breakdowns, and resistance to change. Takeaways: • Uncover and navigate through common pitfalls that are plaguing product teams today. • Explore proven solutions, laying the groundwork for triumphant product launches. • Gain inspiration from real-world success examples from top digital companies, offering invaluable insights into their winning strategies. • Discover how the symbiotic relationship between product managers, UX/UI designers, and developers can transform pitfalls into opportunities, propelling your product outcomes to unprecedented heights.
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
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How to Get Started in Social Media for Art League City
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It will be International Nurses' Day on 12 May
It will be International Nurses' Day on 12 May
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RSA Conference Exhibitor List 2024 - Exhibitors Data
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Business Model Canvas (BMC)- A new venture concept
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Falcon Invoice Discounting: The best investment platform in india for investors
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Famous Olympic Siblings from the 21st Century
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Falcon's Invoice Discounting: Your Path to Prosperity
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The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
Competitive Strategy
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Competitive Strategy By
Michael Porter Instructor: Wesley Shu
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Competitive Strategy
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Generic Strategies Focus
Particular segment only Overall cost leadership Differentiation Industrywide Low cost position Uniqueness perceived by the customer
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