Chapter 8

Chapter 8 - situation c. Establishing Objectives for the...

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Chapter 8: Management, Leadership, and the Internal Organization I. The Strategic Planning Process a. Defining the Organization’s Mission 1. mission statement: written explanation of an organization’s business intentions and aims 2. requires detailed considerations of a company’s values and vision avoid unrealistic promises and statements b. Assessing Your Competitive Position i. SWOT Analysis: is an organized approach to assessing a company’s internal strengths and weaknesses and its external opportunities and threats ii. Acronyms for strengths, weaknesses, opportunities, and threats iii. Practical approach to planning according to realistic view of
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Unformatted text preview: situation c. Establishing Objectives for the Organization i. Objectives: guideposts by which managers define the organization’s desired performance in such areas as profitability, customer service, growth, and employee satisfaction ii. More concrete statements than mission statement d. Creating Strategies for Competitive Differentiation i. Competitive Differentiation: the unique combo of a company’s abilities and approaches that places it ahead of competitors 1. includes product innovation, technology, and employee motivation...
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This note was uploaded on 11/28/2010 for the course BUS 101 taught by Professor Hunter during the Spring '08 term at Bryant.

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