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MGTA01H3 Lecture : Chapter 6 & 7

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10 Nov 2010

School

Department

Management (MGT)

Course

Professor

Ingrid L.Stefanovic

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MGTA01H3 Full Course Notes

MGTA01H3 Full Course Notes

Document Summary

What does a manager do: business strategy, program for. S defining a way of meeting the goals: creating and implementing a strategy is one of the key activities of business managers, goals of the business, step back from day to day operations, ask. N short term goals 1 year or less. N medium term goals 1 to 5 years. S assessing how the goal applies in a particular context. N what is the larger context or environment, and how does it offer opportunities and challenges. N what assets does the business have in this environment. N what are the challenges of the business in this environment. S what is the plan for reaching the specific goal: mission statement. S a general goal that applies to all specific strategies. S everything we do is aimed at realizing the mission statement: levels of strategy specific goals.

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Related Questions

Which of the following is not true about strategy and/or strategic management?

a. The strategic leader's perspective ought to be the holistic consideration of the business and its environment.

b. Strategic management encompasses all the functional areas of business.

c. In business, the strategy requires a big-picture perspective.

d. Strategies sometimes emerge from bottom-up processes.

e. A good leader can afford to devise a strategy in isolation from the lower-level leaders who are responsible for executing it

emeraldmammoth893

The two biggest drawbacks or disadvantages of unrelated diversification are

A)underemphasizing the importance of resource fit and the strong likelihood of diversifying into businesses that top management does not know all that much about.

B)insufficient cash flows to finance so many different lines of business and a lack of uniformity among the strategies of the businesses it has diversified into.

C)volatile sales and profits and making the mistake of diversifying into too many cash cow businesses.

D)the difficulties of competently managing many different businesses and being without the added source of competitive advantage that cross-business strategic fit provides.

E)over-investing in the achievement of economies of scope and the difficulties of achieving a good mix of cash cow and cash hog businesses.

carmineserval589

Which of the following activities is part of the organizing function of a manager?

A. Going over a spreadsheet to analyze some financial data

B. Teaching a new employee how to use a piece of office equipment

C. Giving front-line workers additional resources needed to provide faster and better service to customers

D. Developing a broad general strategy to help the organization meet its long-term growth objectives

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