AC1.1 organisational strategy

Question 1

What is a corporate strategy

Answer 1

A corporate strategy is the strategic decisions a business makes that affect the entire business. This strategy is concerned with setting objectives and reaching for the over all businesses financial performants and long term human resource planning.

Question 2

What is strategic direction

Answer 2

Strategic direction is a course of action that ultimately leads to the achievement of the stated goals of the corporate strategy.

Question 3

What is a divisional strategy

Answer 3

A divisional strategy is what each deviation will do to contribute to achieving the overall corporate strategy, which will be communicated to the divisional managers.

Question 4

What is a functional strategy

Answer 4

A functional strategy relates to a single functional operation such as: production, marketing or HR and the activities involved within each of these functions. the decisions made at this level are guided and limited by the higher corporate strategy and divisional strategy.

Question 5

What dose SMART stand for

Answer 5

Specific, Measurable, Achievable, Relevant, and Time-Bound.

Question 6

what dose PEST stand for

Answer 6

political, economic, social, technological.

Question 7

what dose SWOT stand for

Answer 7

strengths, weakness, opportunities, threats