D073 practice for oa with complete solutions
Mission statement - ✔✔ What we are doing (has objectives that are measurable)
i.e
what will be accomplished
when will it be done
how much will nbe done
Strategy - ✔✔ Als
...
D073 practice for oa with complete solutions
Mission statement - ✔✔ What we are doing (has objectives that are measurable)
i.e
what will be accomplished
when will it be done
how much will nbe done
Strategy - ✔✔ Also called an action plan is developed to achieve a vision
strategic management process - ✔✔ 4 step process to pursue a vision
strategic objective
strategic formulation
strategic implementation
strategic evaluation
Strategic objectives | & analysis - ✔✔ This is an evaluation. An evaluation that is best
used with swot and pestle to help bridge the gap of long term visions and short term
decisions.
Strategic formulation - ✔✔ This step writes the goals and objectives based on the
information obtained from SWOT & pestle
swot - ✔✔ internal investigation to analyze strengths and weaknesses as well as
external appraisal of competitors
pestle - ✔✔ politics,economic,social,technology,legal,environmental evaluation that may
effect a companies strategy
strategic implementation - ✔✔ This is where the planning stops, often called strategic
execution
should give training and allocate resources
success often comes from proper tools and personal motivation
strategic evaluation | & control - ✔✔ Where performance measures are taken because
this stage is crucial.
If it becomes apparent that the strategy is not working according to plan, then new plans
need to be formulated (see step 2) or organizational structures adjusted. Personnel may
need to be retrained or shifted to other duties. The strategic management process may
need to be reexamined or even redeveloped.2
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