Strategy Direction

In: Business and Management

Submitted By casbureugenia
Words 4632
Pages 19
Chapter 01
What Is Strategy and Why Is It Important?

Multiple Choice Questions

What Do We Mean By “Strategy?”

1. Which of the following is not one of the central questions in evaluating a company's business prospects?
A. What is the company's present situation?
B. What are the key products or service attributes demanded by consumers?
C. Where does the company need to go from here?
D. How should it get there?
E. All of these are pertinent in evaluating a company's business prospects.

2. A company's strategy concerns
A. its market focus and plans for offering a more appealing product than rivals.
B. how it plans to make money in its chosen business.
C. management's action plan for running the business and conducting operations—its commitment to pursue a particular set of actions in growing the business, staking out a market position, attracting and pleasing customers, competing successfully, conducting operations, and achieving targeted objectives.
D. the long-term direction that management believes the company should pursue.
E. whether it is employing an aggressive offense to gain market share or a conservative defense to protect its market position.

3. A company's strategy consists of
A. the competitive moves and business approaches that managers are employing to grow the business, stake out a market position, attract and please customers, compete successfully, conduct operations, and achieve targeted objectives.
B. the plans it has to outcompete rivals and establish a sustainable competitive advantage.
C. the offensive moves it is employing to make its product offering more distinctive and appealing to buyers.
D. the actions it is taking to develop a more appealing business model than rivals.
E. its strategic vision, its strategic objectives, and its strategic intent.

4. The competitive moves and…...

Similar Documents

Ktm’s Growth Direction Alternatives

...KTM’s growth direction alternatives regarding new geographies? (550 words)- Similarities and differences KTM has 2 growth opportunities in terms of new geographies. The company can further expand its presence in the European or North American markets. If we define market by geographies, this is considered as a market penetration strategy under Ansoff Matrix, as the company focused on selling existing products into existing markets. To assess the attractiveness of European or the US markets, we carried out an external analysis to compare the markets infrastructures using five contexts framework. The five contexts are a country’s political and social systems, degree of openness, product markets, labour markets and capital markets. Only the relevant contexts will be discussed in below. Under political context, there was a trend of ongoing expansion in the European Union in 2003. It has considerably intensified the competiveness in the European motorcycle market. From product markets perspective, the European motorcycle market was seen as mature and had experienced a declining growth for three years. Sales were predicted to continue deteriorating in the next three years. The market participants had raised concerns about their current and future investment in view of the unfavourable industry environment. Having said, the unified regulatory standard applied across countries in Europe had promoted and optimized the efficiency of resources allocation. In terms of capital......

Words: 458 - Pages: 2

Directions

...Ronald McDonald House 2955 Colonial Drive  Columbia, South Carolina 29203-6811 (803) 254-3181 Link to Palmetto Richland Hospital Campus Map http://www.palmettohealth.org/body-NoRightMenu.cfm?id=4005 Mapquest directions from MTC’s Beltline Campus: | | 1. Start out going north on S Beltline Blvd toward Beecliff Dr.MapHide Map | 0.09 mi 0.09 mi total | | | | 2. Turn right onto SC-16 N / N Beltline Blvd.MapHide Map * SC-16 N is just past Beecliff Dr | 0.4 mi 1 minute 0.5 mi total | | | | 3. Turn left onto US-76 / US-378 / Devine St.MapHide Map * US-76 is just past Blossom St * Maurice's Gourmet Barbeque is on the corner * If you reach Woodland Dr you've gone about 0.1 miles too far | 0.9 mi 1 minute 1.4 mi total | | | | 4. Turn slight right onto US-76 / US-378 / Millwood Ave.MapHide Map * US-76 is just past Albion Rd * Shandon United Methodist Chr is on the right | 1.4 mi 3 minutes 2.8 mi total | | | | 5. Turn left onto US-1 S / US-76 W / US-378 W / Gervais St.MapHide Map * US-1 S is 0.1 miles past Short St * China Hut II is on the right * If you are on N Millwood Ave and reach Lady St you've gone a little too far | 0.3 mi 3.1 mi total | | | | 6. Turn right onto Harden St.MapHide Map * Harden St is just past Pine St * If you reach Laurens St you've gone a little too far | 1.4 mi 3 minutes 4.5 mi total | | | | 7. Turn slight right onto Colonial Dr / SC-555.MapHide Map * Colonial Dr is just past Slighs Ave | 0.2......

Words: 336 - Pages: 2

Art Direction

...department. They are responsible for assigning tasks to personnel such as the Art Department Coordinator, and the Construction Coordinator, keeping track of the art department budget and scheduling (i.e. Prep/Wrap Schedule) as well as overall quality control. They are often also a liaison to other departments; especially Construction, Special FX, Property, Transportation (graphics), and Locations Departments. The Art Director also attends all production meetings and tech scouts in order to provide information to the set designers in preparation for all departments to have a visual floor plan of each location visited. In the past, the title of Art Director was used to denote the head of the art department (hence the Academy Award for Best Art Direction ) which also included the Set Decorator. Now the Award includes the Production Designer and Set Decorator. On the movie Gone with the Wind, David O. Selznick felt that William Cameron Menzies had such a significant role in the look of the film, that the title Art Director was not sufficient and so he gave Menzies the title of Production Designer.[2] The title has become more common, and now Production Designer is commonly used as the title for the head of the Art Department, although the title actually implies control over every visual aspect of a film, including costumes. ...

Words: 888 - Pages: 4

Strategic Directions

...Featured Chapter Creating a Strategic Direction Visions and Values Paul Olk, Peter Rainsford, and Tsungting Chung ncreased globalization and the incorporation of many new information technology (IT) tools have enhanced the need for top management to set a clear strategic vision for a company. As market demands and the ability to communicate globally encourage companies to continue to expand into new geographical and product markets—and as they also enter into long-term buyer-supplier relationships or contract out activities previously conducted internally—companies are spread more thinly. This creates a challenge of how to coordinate all of the activities conducted around the globe and by partner organizations. While sophisticated software programs (e.g., enterprise resource planning [ERP]) or intranet capabilities enhance internal communication, these are not adequate. Establishing and maintaining a consistent strategic direction for the company begins with setting a clear vision for the company. A strategic vision provides multiple benefits to a company. First, it presents a broadly shared sense of organizational direction and purpose. Direction is needed because few organizations have achieved greatness by being all things to all consumers. To instill a purpose, most successful companies achieved their leadership position by adopting a vision far greater than their resource base and competencies would allow (de Kluyver & Pearce, 2002; Hamel & Prahalad, 1989). A......

Words: 5450 - Pages: 22

Phone Directions

...Device Opening Installed Applications and Games Google™ Mobile Services Your LG Marquee™ provides easy access to a variety of Google services including Gmail™, Google Talk™, Google Maps™, Google Navigation, and YouTube™. • Gmail – The Google mail service. Your Gmail account lets you access many Google-related services as well as the Android Market. (See “Set Up a Gmail Account” on page 18.) • Google Talk – Google’s instant messaging service. Press and tap > Talk to begin using the service. (If you’re signed in to your Gmail account, you are already signed in to Google Talk.) • Google Maps and Google Navigation – The Google location programs let you track your current location, view real-time traffic situations, and receive detailed directions to your destination. They also provide search tools where you can locate places of interest or an address on a vector or aerial map, or view locations in street level. Press and tap > Maps or Navigation to begin using the services. 24 • YouTube – View and share videos on one of the Web’s most popular video sites. Press and tap > YouTube to browse through and view available videos. Sign in with your Gmail account to upload your own videos. Bluetooth Pair and Connect With a Bluetooth -Capable Device ® Share Contacts, Files, or Pictures Using Bluetooth 1. Open the application containing the file you want to share (for example, press and tap > Contacts ). 2. Locate the file or entry you want to share. Use Your......

Words: 6601 - Pages: 27

Stratagic Directions

...identify every knowledge produced by an organization, who produce and use it, how frequent is the knowledge used, and where is the knowledge stored. As KM shifted away from a materialistic few of knowledge as a transferable good, towards approaches that favored networking and organizational culture, the idea of stocktaking was applied in addition to the overall knowledge needs of organizations (knowledge needs assessment), as well as readiness of an organization for knowledge sharing, which included aspects like knowledge flows, networks, technology, etc. In their book “Learning to Fly” Chris Collison and Goeff Parcell provide a “KM Self Assessment” tool to help an organization understand their state of KM along the dimensions "KM strategy", "Leadership behaviour", "Networking", "Learning before, during and after" and "Capturing knowledge"....

Words: 257 - Pages: 2

Direction Word

...Direction Word Direction word: Analyse Show the nature of a thing by identifying the essential elements and showing how they are related. Weaknesses or disadvantages may come to light in this process Direction word: Argue Present the case for and/or against a particular proposition Direction word: Comment on Point out the important features, criticise Direction word: Compare Identify characteristics or qualities that resemble each other; emphasise similarities and also mention differences where appropriate Direction word: Contrast Stress the dissimilarities and differences between things, events, problems, or qualities Direction word: Criticise Express your judgement about the merit or truth of the factors or views mentioned. Draw conclusions, discussing both the limitations and the good points. Direction word: Define Provider concise, clear, and authoritative meanings. Give the limits of the definition, but omit detailed explanations. Show how the item defined differs from items in other classes Direction word: Describe State the most noticeable qualities and features, recount, characterise, outline and relate in sequence Direction word: Diagram A drawing, chart, plan, or graph. Diagrams should be labelled and there should be an accompanying explanation Direction word: Discuss Examine, analyse carefully, and give reasons for and against. Be complete and give details, usually with a view to assessing how 'satisfactory' something......

Words: 289 - Pages: 2

Vzt1 Directions

...Marketing Plans - The graduate can create a marketing plan. Objectives: 318.1.5-06: Apply Porter’s Five Forces model to an analysis of the competitive environment for a given business situation. 318.1.5-07: Define the target market as part of a marketing plan for a given situation. 318.1.5-08: Classify a specified consumer product using the three-way consumer products classification system. 318.1.5-09: Develop an appropriate set of marketing objectives that support a given mission statement. 318.1.5-10: Develop a SWOT analysis for a given business situation. 318.1.5-11: Select an appropriate distribution channel for a given marketing situation. 318.1.5-12: Select an appropriate pricing strategy for a given marketing situation. 318.1.5-13: Select an appropriate promotion strategy for a given marketing situation. 318.1.5-14: Develop a tactical marketing plan that supports specified elements of a strategic marketing plan. 318.1.5-15: Identify monitoring and control activities appropriate for a specified tactical marketing plan. Introduction: Company G is a well-established firm that is highly regarded in the electronics market. Its mission statement is as follows: “We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronic solutions.” Company G’s engineers and designers have developed a line of small appliances that the company feels can be very successful in the small-appliance market. The......

Words: 1241 - Pages: 5

Leadership and Direction

...Introduction As leaders you should be expected to coordinate to ensure provision in your organization. In order to accomplish a well organize organization as a leader you need to have a plan on how you’re going to direct your employees. The article on leadership & direction it outlines on how to have direction and control to execute methods for continues improvement for a leader by using the PDCA Cycle ( Plan, Do, Check, Act), it is a four step method that uses not only direction and control to execute, but also provide and iterative process for continues improvement (“Big dog &”, 1997,para 1). Based on this article I will be answering and explaining the following. How do questions helps to ensure that a project is successful, what type of questions must be asked and answered to ensure the project is appropriate for the organization and how does a leader know if all the right questions have been asked. Questions that help ensure that a project is successful In my opinion questions help to ensure that a project is successful because if you don’t ask questions were are unlikely to get the information we need to make good decisions. According to the article Leadership & Direction “Good plans start with brainstorming” (“Big dog &”, 1997, para, 2). By asking questions the team is able to plan positive forces and events and then taking action to avoid any obstruction that might put the project at risk of failing. Any information received by your employees by asking the......

Words: 654 - Pages: 3

One Direction

...In 2010, five boys beat hundred of thousands others to get the coveted spots in the seventh series "The X Factor". Niall Horan, Zayn Malik, Liam Payne, Harry Styles and Louis Tomlinson did not know each other before the audition of the British talent show but they were grouped together by fate and later achieved fame in one direction. The members applied as solo candidates but they did not qualify as "Boys" category, thus judge Nicole Scherzinger suggested them to form a group so that they would qualify as "Groups". One Direction began toppling their competition one by one although they remained the only group in its category. With Simon Cowell as their mentor, One Direction managed to finish third behind runner-up Rebecca Ferguson and winner Matt Cardle. But One Direction were the quickest to break through the charts in United Kingdom and United States. Their supposed winning song "Forever Young" was leaked online after the "X Factor" final. The group signed a recording deal with Syco Records and they went on the annual contestants tour through April 2011. Meanwhile, work on their debut album was also moving fast. "What Makes You Beautiful" was released as the first U.K. Single in September 2011. The song successfully landed at number on U.K. Singles chart. "Gotta Be You" was released as one last bullet before the album "Up All Night" was released in November 2011 and took the second spot of U.K. Albums chart by selling more than 138,000 copies in the first week....

Words: 726 - Pages: 3

Determining Strategic Direction

...Determining Strategic Direction Even though some may argue or not invest the time to create a mission statement for a business small or large, it is important to have a mission statement because creating a vision will guide a company’s future. In doing so a mission statement will provide the vision, mission, and values for the organization’s that will help determine the strategic direction. A well define mission statement will not only help guide a company to success but also define the owner, employees and also set you apart from your competitors. Before creating a mission statement is important to have a vision statement that will convey what the intent for the future of the company and clarify the organizations beliefs and principles. My vision for my independent trucking business would be “To be the most requested independent driver in central Texas by providing first class transportation solutions.” My long range goal is to broker my own deals with the shippers, drive the goods myself and own my own truck. With the vision statement clarifying my trucking company’s goal and where I want to be in the future; the next step is to make a mission statement to capture the reason to be in business and what will help in making company decisions. Central Texas Trucking Company (CTTC) is dedicated to the principal and philosophy of being the best domestic transportation throughout Texas. As an independent trucker, I will provide transportation solutions with the highest......

Words: 1120 - Pages: 5

Organisational Direction

...Level 7 Diploma in Strategic Management and Leadership Assignment Unit 7006 Organisational Direction Tutor William Brown Written by Sean Reddaway Managing the Underground City The New York City Transit Authority (NYCTA) Reclaims its Subway Stations Contents Strategic Aims and Objectives 3 The overall strategic aim of the NYCTA is: 3 The specific aims of the NYCTA, (in ascending order of priority) are: 3 The strategic objectives of the NYCTA, (in ascending order of priority) are: 3 Factors affecting the NYCTA 4 Progress Towards Achieving Strategic Aims and Objectives 5 Evaluation of the strategic position of the NYCTA 8 The Stakeholders in the NYCTA and their expectations and influence 9 Strategic Options for the NYCTA 10 References 12 Strategic Aims and Objectives The Charities Evaluation Services (2005) identify the difference between aims and objectives as: “Aims are the changes you hope to achieve as a result of your work Objectives are the activities you undertake and the services you offer to bring these changes about” It also recognises that there can often be an overall aim with several specific aims. [pic] The overall strategic aim of the NYCTA is: • To restore public confidence in the subways by improving the environment for passengers, from a physical standpoint, by a feeling of safety and a feeling that somebody is in control. The specific aims of the NYCTA, (in ascending order......

Words: 3248 - Pages: 13

The Direction of Sports

...The Direction of Sports ​As a sports fan I am concerned about the directions sports have taken.  Sports in general have been headed in the wrong direction for some time now.  They still have a lot of time to change.  They need to act quickly though if they want to solve the problem.  Every major sport seems to have a problem.  Baseball had their huge problem with steroids, basketball has a reputation of its players being thugs, but football seems to have no major problem.  Many of these problems have not only affected the leagues, they have affected the youth all across America.  Like the problems the solutions are very diverse.  I love all sports, and I would hate to see them become disgraced.   ​Baseball which is my favorite sport has had the most trouble in the past couple of years.  Their decline started with the steroid scandal involving Barry Bonds.  When a player that big in the game is going after a cherished home run record and there are scandals surrounding it, there is going to be some turmoil.  It wasn’t just Barry Bonds fault and the people involved in the scandal, it was also baseball officials fault for not doing anything when they knew about the things going on in baseball.  They turned their back to the problem because at the time baseball was doing well and they didn’t want to disrupt that.  Baseball was forced to act because of the scandal.  They put in a steroid policy that was laughable compared to the steroid policy of the Olympics.  Baseball would......

Words: 963 - Pages: 4

Directions

...damp wind swirled around my body as I walked on the pathway of the dimly lit street. Winter is arriving with a vengeance. My hands are frozen, yet, I have a sweat up from walking to a steady pace for so long, must have walked at least two kilometres now. I cannot see if the street ends or turns, it is too dark to work out, the street lights are placed erratically, not like to city lights where I am from. I thought she said “follow the main road”. Well, I am on the main road, a dark, dimly lit main road. I looked back, did I miss another point of direction. I am to turn left after Tot Spot and the Scarlet Women sign advertising a play currently running. Oh, at last, there is the early childhood centre, not much of a childhood centre if you want my opinion. So, where is the Scarlet Women sign? I am getting worried now, after thirty minutes, I should have reached her home by now. I’m going back to ‘Tot Spot’ and start again. Some directions, the Scarlet Women sign is on the other side of the road, facing the other way. My blood pressure is rising, I’m starting to get emotional and stressed. Uh, I should have written down those instructions. Okay, go over one more time in my head, what did she say to me on the phone? Forty minutes from the swimming centre. Walking distance, that’s what she said, walking distance. Swimming Centre, Shopping centre, Tot Spot, Scarlet Women, passed all of those, what have I missed? Here it is; the alley-way shortcut to her street. That’s what I......

Words: 552 - Pages: 3

Strategic Direction

...Running head: STRATEGIC DIRECTION—HOME DEPOT Strategic Direction—Home Depot Keller Graduate School of Management J. Lambrou, Professor Strategic Direction Introduction What is Strategic Direction? This means taking your company in a direction related to what’s happening in the dynamic environment of what the business provides (be it in a services, manufacturing, technological, or financial area). (Olsen, 2007) Therefore, the strategy and direction the company take are defined by what established and unique value propositions the company has when compared to competitors; operations executed to provide different and tailored value to customers; clearly identifies any tradeoffs and clarifies what not to do; focuses on activities that fit together and reinforce each other; and is continually driven for improvement within the organization and while moving it toward its defined vision. I use The Home Depot (Home Depot here-out) for this paper as I have a part-time job with them. Strategy Home Depot’s simple and straightforward strategy is to ensure it diversifies its operations by having several businesses competing in the different product markets of home improvement. (Home Depot, 2008) The Home Depot has positioned itself within the industry based on a strategy of cost leadership. This operating strategy allows the company to earn above-average profitability by dictating prices from suppliers lowering input costs and minimizing distribution transactions......

Words: 3469 - Pages: 14

Space Bear and the Love Bomb | Скачать APK | Eddy Chandler