MGTA01H3 Lecture : Chapter 6 Business Strategy.doc

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oliveelephant471

21 Feb 2012

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Leadership- showing people how they should act, and how they can contribute. Strategy- determining the long term goals and objectives of the business and the actions necessary for carrying out those goals. General management, responsibility of senior management, responsibility of board and ceo. Mission- organizations overarching purpose is referred to as: mission . Establish goals -> analyze the environment-> analyze the organization-> choose how to compete->carry out the plan. Assessing position of individual firms within an industry. Level of success and profitability enjoyed by all firms within industry. Level of success and profitability enjoyed by individual firm in industry. Intense competition in industries with low growth, high fixed costs, large number of competitors. Competitive moves by one will have direct affect on others in the industry , inciting retaliation. Purchases represent high 1% of customers costs. Information on costs readily available few or no substitutes for product/service. Seller doesn"t derive large % of sales from buyer.

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 purpose of management by objectives is to:

A. enable top management to set goals for the entire organization.

B. simplify the jobs of middle management by providing them with predetermined goals and objectives.

C.help employees motivate themselves with a goal-setting model that involves, discussion, review, and evaluation by management and employees.

D. allows employees to set their own goals without consulting with management.

rubybuffalo950

A central characteristic of "management by objectives" is that:

A goals are set by top management and followed without question by others within the organization.

B. employees are given complete freedom to set their own goals as long as they are consistent with broad guidelines established by top management.

C. goals are set through a process involving all members of the organization.

D. it assumes that management must motivate employees since employees are incapable of motivating themselves.

brownturtle759

MGTA01H3 Lecture : Chapter 6 Business Strategy.doc

MGTA01H3 Full Course Notes

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