Get premium membership and access questions with answers, video lessons as well as revision papers.
1. Defines the organization mission, vision and values
2. Establishes realistic goals, objectives and strategies for the organization
3. Ensures effective use of resources available to the organization
4. Provides base to measure progress for evaluation purposes
5. Develops consensus on future direction of the organization
6. Builds strong teams within the organization giving it competitive advantage over its
rivals.
7. Solves major problems in the organization which might have occurred without planning.
Titany answered the question on October 19, 2021 at 08:14
- Reasons for strategic planning(Solved)
Reasons for strategic planning
Date posted: October 19, 2021. Answers (1)
- Triggers of New Strategy in a company(Solved)
Triggers of New Strategy in a company
Date posted: October 19, 2021. Answers (1)
- Company’s Strategy-Making Hierarchy and their duties(Solved)
Company’s Strategy-Making Hierarchy and their duties
Date posted: October 19, 2021. Answers (1)
- Who Participates in Crafting Strategy?(Solved)
Who Participates in Crafting Strategy?
Date posted: October 19, 2021. Answers (1)
- Responsibilities of Top Management in an organization(Solved)
Responsibilities of Top Management in an organization
Date posted: October 19, 2021. Answers (1)
- Dimensions of Strategic Decisions (Characteristics)(Solved)
Dimensions of Strategic Decisions (Characteristics)
Date posted: October 19, 2021. Answers (1)
- Diagrammatically express the strategic management process(Solved)
Diagrammatically express the strategic management process
Date posted: October 19, 2021. Answers (1)
- Schools of Thought in Strategic Management(Solved)
Schools of Thought in Strategic Management
Date posted: October 19, 2021. Answers (1)
- What is the difference between strategic planning and strategic management?(Solved)
What is the difference between strategic planning and strategic management?
Date posted: October 19, 2021. Answers (1)
- Explain the Five Ps of strategy(Solved)
Explain the Five Ps of strategy
Date posted: October 19, 2021. Answers (1)
- Highlight the steps to effective change(Beer et al’s model)(Solved)
Highlight the steps to effective change(Beer et al’s model)
Date posted: August 5, 2019. Answers (1)
- Give the areas of focus upon sustaining change in an organization.(Solved)
Give the areas of focus upon sustaining change in an organization.
Date posted: August 5, 2019. Answers (1)
- Discuss the steps involved in project execution.(Solved)
Discuss the steps involved in project execution.
Date posted: August 5, 2019. Answers (1)
- Explain the product life cycle(Solved)
Explain the product life cycle
Date posted: August 3, 2019. Answers (1)
- Define Cost leadership(Solved)
Define Cost leadership
Date posted: August 3, 2019. Answers (1)
- Define Competitive Strategy(Solved)
Define Competitive Strategy
Date posted: August 3, 2019. Answers (1)
- List various business entry barriers.(Solved)
List various business entry barriers.
Date posted: August 3, 2019. Answers (1)
- Give factors influencing the tempo of cross-company rivalry(Solved)
Give factors influencing the tempo of cross-company rivalry
Date posted: August 3, 2019. Answers (1)
- Highlight five competitive forces(Solved)
Highlight five competitive forces
Date posted: August 3, 2019. Answers (1)
- Define Capabilities(Solved)
Define Capabilities
Date posted: August 3, 2019. Answers (1)