What is the set of decisions and actions used to formulate and implement strategies?
Strategic Management The set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.
Which of the following lists the strategic management process in proper order?
Which of the following lists the strategic management process in proper order? Formulate strategy; Evaluate strategy; Perform SWOT analysis; Define new mission/goals; Execute strategy; Control strategy.
When organizational parts interact to produce a joint effect that is greater than the sum of the parts acting alone <UNK> occurs?
Synergy
What are the four tools for putting strategy into action?
- SWOT Analysis. The SWOT analysis is a tool used in strategic planning to identify and, ultimately, prioritize the organization’s strengths, weaknesses, opportunities and threats.
- Porter’s Five Forces Model.
- Mind Maps.
- Balanced Scorecard.
Is the act of determining the organization’s goals and defining the means for achieving them?
Planning
Which of the four management functions is considered the most fundamental?
While there are many other functions to effective management; planning, organizing, directing and controlling are the four main functions of management that should be considered the most important.
What level of management is a supervisor?
first-level
Is there a difference between manager and supervisor?
Managers focus on determining ‘what’ it is their unit does (i.e., purpose, function and roles) and in doing so in a manner that furthers the organization’s larger goals. Supervisors are focused on day-to-day operations of ‘how’ to implement management’s decisions in their unit through the work of subordinates.
Should a supervisor make more than his employees?
A. It doesn’t happen often, but from time to time a supervisor may make less money than an employee who reports to him or her. When an employee earns more than his or her supervisor, it is normally because the employee’s technical skills are worth more than those of the supervisor.
What is DGM position?
The deputy general manager is an executive position who’s primary function is to learn the CEO’s duties in case they ever have to fill in for the CEO. That is their primary responsibility, to be an emergency fill-in for the CEO, or the top position in any company.