a. (i) Strategic Planning & Control Flashcards
McKinsey 7 model sub-systems?
Shared value, Structure, System, Style, Staff, Skills, Strategy
Value Chain 5 primary activities
Inbound, Operations, Outbound, Maketing & Sales, Services
Value Chain 4 support activities
Infrastructure, HR Management, Technology Development, Procurement
Strategic Planning three important activities?
Planning > Control > Decision Making
What is performance management
activity organisation carry out lead to organisation goals
What is performance measurement
Measure achievement of organisation > working towards organisation goals
Porters Five Forces meaning and elements
Level of competitiveness in industry or market. New entrants, substitute, supplier, customers, rivalry
What is BCG Matrix and determine product at growth rate / market share
Understanding product positioning in organisation. Star > Question mark? > Cash Cow > Dog
What is benchmarking
Making comparison against best practice. Identify gap to make improvement in performance
Seven stages of benchmarking?
Objectives > Key measure > Organisation > Measure > Compare > Improve > Monitor
Types of benchmarking
Internal > same org, diff process/function (no innovation).. Competitor > other competition (reliable data/accuracy)… Functional > Diff organisation (learn best practice)
Changing role of MA : Burns & Scapens (three factors)
Technology. Management Structure. Competition
What is performance Hierarchy?
Relationship between missions - goals - objectives and how strategy can be formulated - based on CSF.. measure by suitable KPIs - to determine performance of organisation
What is CSF
areas of organisation - to achieve objectives (eg. quality, pricing, service or branding)
What is budgeting
tool for planning (allocate resource) and control (budget vs actual)
