STRATEGIES
1. What
is Emotional Intelligence?
Emotional
intelligence is a mix of psychological attributes that many strong and
effective leaders possess. They are
•
Self Awareness- the ability to understand one‘s own
moods emotions and
drivers,
as well as their effect on others.
•
Self Regulation-the ability to control or re-direct
disruptive impulses or moods, that is to think before acting.
•
Motivation: a passion for work that goes beyond
money or status and a propensity to pursue goals with energy and persistence.
•
Empathy: understanding the feelings and viewpoints
of subordinates and taking those into account when making decisions.
•
Social skills: Friendliness with a purpose.
2. What
is Organizational inertia?
Organizational
inertia is the inability of the organization to adapt in a timely manner to new
circumstances. This is on of the major reason that companies are often so slow
to respond to new competitive conditions organizational inertia is complex and
has a number of underlying causes. One source is he power and influence of
individual managers another source is the existing allure of the organization.
3. What
is Competitive intelligence?
Competitive
intelligence means gathering of information about the competitors. 4. Define
Policy?
A policy
is a broad guideline for decision making that links the formulation of strategy
with its implementation. Companies use form make decisions and take actions
that support the corporations missions, objectives and strategies.
5. What
is Budget?
A budget
is a statement of a corporations programs in terms of dollars. Ic, in monetary
terns. On planning and control, a budge lists the detailed cost of each
program.
6. What
is strategy formulation?
Strategy
formulation is the development of long range plans for the effective management
of environment opportunities and threats, taking into consideration corporate
strengths and weaknesses. It includes defining the corporate Mission,
specifying achievable objectives developing strategic and scatting policy guide
lines.
7. What
is a Mission?
An
organization‘s mission is its purpose or the reason for its existence a well
conceived mission statement defines the fundamental unique purpose that sets a
company apart from other forms of its type and identifies the scope of the
company‘s operation interns of products offered and markets served. It puts
into words not only what the company is now but, what it wants to become.
8. What
are objectives?
Objectives
are the end results of planned activity they state what is to be accomplished
by when and should be quantified of possible. The achievement of corporate
objectives should result in the fulfillment of the corporation‘s mission.
9. What
is Evaluation and control?
Evaluation
and control is the process by which corporate activities and performance
results are monitored so that actual performances can be companied with desired
performance. Manager at all levels use resulting information to take corrective
action and resolve problems.
10. What
are the Responsibilities of the Board of Directors?
• Setting
corporate strategy, overall direction mission or vision
• Succession:
baring and firing the CEO and top management
• Controlling,
monitoring, or supervising top management.
• Reviewing
and approving the use of resources.
• Caring
for stockholder interests
11. What
are the responsibilities of the CEO?
• Provide
exclusive leadership and a strategic vision
• Manage
the strategic planning process CEO articulates a strategic vision for the
corporation.
CEO not only communication high performance standards, but also shows,
•
Confiding in the followers abilities to meet these standards.
12. What
are the four responsibilities of business?
• Economic
responsibility
• Legal
Responsibility
• Ethical
Responsibility
• Discretionary
Responsibility
13. What
is a strategic type?
Strategic
type is a category of firms based on a common strategic orientation and a
combination of structure, culture and processes consistent with that strategy.
There are 4 strategic types. Defenders, prospectors, Analyzers and Reactors.
14. What
is a defender?
Defenders
are Romanics with a limited product line. Those fours on improving the
officered of their existing operations they won‘t try to innovate in new areas.
15. What
are prospectors?
Prospectors
are companies with fairly broad product line those fours on product innovation
and market opportunities. This sales orientation makes them somewhat
inefficient. They tend to emphasis inactivity over efficiency.
16. What
are analyzers?
Analyzers
are companies that operate in at least different product market areas, one
stable and one variable. In the stable area efficiency is emphasized. In the
variable area innovation is emphasized.
17. What
are reactors?
Reactors
are companies that lack a consistent strategy-structure-culture relationship.
Their responses to environment presumes fend to be piece-meal strategic
changes.
18. How
do resources determine competitive advantage?
• Identify
and classify the firm‘s resources in terms of strengths and weaknesses.
• Combine
the firm‘s strengths into specific capabilities-these are core competitive
• Appraise
the profit potential of their resources and competencies in terms of their
potential
for sustainable. Competitive advantaged the ability to harvest the profits
resulting from the use of these resources and capabilities.
• Select
the strategy that best exploits the firm‘s resources and competencies relative
to external opportunities.
•
Identify resource gaps and invest in upgrade weaknesses.
19. What
is durability?
Durability
is the rate at which firms underlying resources and capabilities depreciate or
become obsolete. New technology can make a companies are competency obsolete or
irrelevant.
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