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study guide - chap 1-4

study guide - chap 1-4 - SWOT analysis balanced scorecard...

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Ch. 2 Leading the process of crafting and executing strategy 1. What is a mission? 2. How does a vision differ from a mission? 3. What are some of the internal and external factor to consider in deciding a company’s future direction? 4. Describe each of the steps in the strategic management process (strategy-making, strategy-executing process). Figure 2.1 5. What are the reasons for using a balanced scorecard to set and evaluate a company’s objectives? 7. What is the role of the board of directors in the strategic management process? Key terms from chapter 2 mission vision Levels of strategy (hierarchy of strategy) – Figure 2.2 Corporate, business, functional strategies operating strategies (not strategic but support execution) strategic intent strategic plan internal environment external environment
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Unformatted text preview: SWOT analysis balanced scorecard Triple bottom line* *not in text Reading 2: Enabling Bold Visions This reading discusses why companies may have difficulty following a new vision and provides some solutions. Discuss both of these aspects. External Environment (Ch. 3) – Environment, Industry, Competitors 1. Porter’s Five-Forces Model…Define each force. 4. Your text identifies 14 common driving forces for evaluating an industry. Different firms may be affected positively or negatively depending on their position in the industry. Key Terms external environment environmental scanning environmental uncertainty driving forces competitor competitive intelligence industry industry analysis Porter’s 5 Forces analysis strategic group strategic group mapping key success factors...
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