MAN 3025 Study Guide - Midterm Guide: Strategic Management, Swot Analysis, Firstline
16 Mar 2016
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Planning- setting goals and deciding how to achieve them: planning control cycle. Control the direction by comparing results with the plan. Control the direction by taking corrective action: types of planning and who does what. Contributions from departments during the next months. Accomplish specific tasks in next few weeks. Goals, action and operating plans: 3 types of goals. Strategy- large-scale action plan that sets the direction for an organization: a firm"s strategic plan provides the overall blueprint for where the org is going and how it"s going to get there. Strategy positioning- attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company: 3 types. Variety based- choice of product/service rather that customer segments. Needs based- choice of activities that suit a particular customer segment when there are groups of customers with different needs. Access based- segmenting customers who are accessible in different ways not on customer differences.
