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Strategic Management (Approaches to Strategizing - Planning Process) > Approaches to Strategizing > Flashcards

Approaches to Strategizing Flashcards

1
Q

FOUR (4) APPROACHES IN STRATEGIZING THAT COULD BE ADOPTED

A

• ADAPTIVE STRATEGIZING
• IDEOLOGICAL
STRATEGIZING
• CREATIVE STRATEGIZING
• RATIONAL, SEQUENTIAL, AND
ANALYTICAL
STRATEGIZING

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2
Q

Approach to Strategizing:

By and large, organizations usually do not undergo a
rigorous process of setting goals or even formulating
strategic plans. They just take opportunities as they
come their way, make quick assessments of risks
attendant to those opportunities and determine their
preferred courses of action according to certain
criteria they have set.

In this modality, strategies sprout naturally as the
market situation unfolds and as the organization’s
capacity to carry out new strategies develops.

A

ADAPTIVE OR INCREMENTAL STRATEGIZING

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3
Q

Approach to Strategizing:

For example, The Scooby Company producing diamond
rings find the demand for the product increasing. In
reaction, it expands plant capacity so as to
accommodate the growing demand. The company keeps
on increasing capacity, like adding more product lines
and services, depending on the market response to its
initial offerings.

A

ADAPTIVE OR INCREMENTAL STRATEGIZING

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4
Q

Approach to Strategizing:

In metaphoric view, it may resemble to
a chess game between two eager rivals, each one
provoking or reacting to other in tactical moves that
proceed from a set game plan. This means, as a
strategist, you have to learn the Art of War in business in
order to achieve gains amidst a stiffer competition.

A

ADAPTIVE OR INCREMENTAL STRATEGIZING

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5
Q

Approach to Strategizing:

Take note that strategies emerge naturally in the course
of running a business or a development institution. We
can label this approach as “Incremental Strategizing” or
the Strategy of Muddling Through. It is opportunistic and
situational by nature. A lot of organizations take this
approach, preferring it to more formal strategy
formulation methods. That is why it is
differentiated as the strategy formation process.

A

ADAPTIVE OR INCREMENTAL STRATEGIZING

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6
Q

Approach to Strategizing:

Certain organizations exist because they espouse a definite
set of beliefs, philosophies, principles, and ideologies. They
basically adhere to a prescribed way of living life, often
translating the way into clear-out policies, norms of
behaviour, and codes of conduct.

A

IDEOLOGICAL STRATEGIZING

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7
Q

Approach to Strategizing:

All strategies are formulated towards perpetrating the
organization’s dogmas. Members of the organization are
committed to spreading the good news or winning converts
to the fold. Essentially, this approach works towards attaining the avowed philosophies, principles, and policies of the
organization.

A

IDEOLOGICAL STRATEGIZING

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8
Q

Approach to Strategizing:

Political and religious organizations are the usual
proponents of this strategies although causeoriented people’s organizations, non-government entities,
and even principle-centered business establishments
espouse this approach.

A

IDEOLOGICAL STRATEGIZING

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9
Q

Approach to Strategizing:

Organizations often have strong cultures
and governing bodies to ensure doctrinal purity. This allows
them to send their people out as missionaries to far-flung
areas in order to propagate the faith.

A

IDEOLOGICAL STRATEGIZING

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10
Q

Approach to Strategizing:

Strategists put themselves a cut above the rest.
They have huge research and development budgets to
produce miracle drugs, rocket science gizmos, and competitor-killing services.

A

CREATIVE STRATEGIZING

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11
Q

Approach to Strategizing:

Relies on creative people, creative
thinking process, organizational environments conducive to
creativity, and hefty resources committed to research and
development.

A

CREATIVE STRATEGIZING

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12
Q

Approach to Strategizing:

People can produce outstanding strategies and
innovative ideas if they are encouraged to adopt creative
thinking processes such as brainstorming, synectics (a
problem-solving technique that seeks to promote creative
thinking, typically among small groups of people of diverse
experience and expertise), and lateral thinking (the solving
of problems by an indirect and creative approach, typically
through viewing the problem in a new and unusual light),
among others. These techniques either generate a lot of
ideas or produce different, unique ones.

A

CREATIVE STRATEGIZING

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13
Q

Approach to Strategizing:

Methods thrive best in an environment
made conducive to creativity.

A

CREATIVE STRATEGIZING

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14
Q

Note: The first three (3) strategizing approaches generally
follow the intuitive, emotional, holistic, and creative functions
of the right brain. Strategies are not normally formulated.
Rather, they emerge naturally in the course of an
organization’s development (_____ strategizing) or they
spring from values (_____ strategizing) or sprout from
innovative insights (_____ strategizing).

A
  1. adaptive
  2. ideological
  3. creative
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15
Q

Approach to Strategizing:

It adopts a logical step-bystep process and relies more on the faculties of the left
brain.

A

RATIONAL, SEQUENTIAL, AND ANALYTICAL STRATEGIZING

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16
Q

Approach to Strategizing:

_____ Strategizing, as the term implies, uses the
science of correct reasoning. It posits that inductive or
deductive thought processes must follow a sequential,
linear pattern. It relies heavily on analyzing causes and
their effects to enable the strategist to predict what
consequences will happen as a result of certain human
interventions.

A

RATIONAL

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17
Q

Approach to Strategizing:

The _____ approach relies heavily on charting trends,
recognizing patterns, and mapping out possible
scenarios with hope of forecasting outcomes as events
unfold.

A

RATIONAL

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18
Q

There are two (2) sequential
processes taken in the rational
approach such as

A

1.Top-down Sequence
2.Bottom-up Sequence

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19
Q

Sequential
process taken in the rational
approach:

The strategist draw a clear picture of where he wants the organization to go. This is the organizational vision.

A

THE TOP-DOWN SEQUENCE

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20
Q

THE TOP-DOWN SEQUENCE:

It is an idealized state desired three, five or ten years down the strategic road.

A

Vision

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21
Q

THE TOP-DOWN SEQUENCE:

The strategist then articulates the reason for being basic purpose for establishing the organization.

A

Mission Statement

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22
Q

THE TOP-DOWN SEQUENCE:

Often accompany the mission statement.

A

Core Values

23
Q

THE TOP-DOWN SEQUENCE:

From the vision and mission, the strategist goes further down to _____, which are measurable end-results that determine the organization is getting closer or farther from its goals.

A

Objectives

24
Q

THE TOP-DOWN SEQUENCE:

Each objective is then translated in to _____ where specific manifestations that the objective is being attained.

A

Key Result Areas (KRAs)

25
Q

THE TOP-DOWN SEQUENCE:

The _____, which are qualitative statements, are then quantified into no- nonsense _____, which are quantitatively specified.

A
  1. KRAs
  2. Performance Indicators (PIs)
26
Q

THE TOP-DOWN SEQUENCE:

Based on _____, the organization then generates _____ which can be employed to achieve this PIs.

A
  1. PIs
  2. Alternative Strategies
27
Q

THE TOP-DOWN SEQUENCE:

The strategies are broken down into _____ which are, in turn, cascaded into _____ and _____.

A
  1. Action Programs
  2. Group Activities
  3. Individual Tasks
28
Q

THE TOP-DOWN SEQUENCE:

Finally, the resources required to deliver the _____, _____, _____, and _____ are spelled out. (Clue: SPATs)

A
  1. Strategies
  2. Programs
  3. Activities
  4. Tasks
29
Q

Give the steps in THE TOP-DOWN SEQUENCE.

A

In the top-down sequence, the strategist draw a clear picture of where he wants the organization to go. This is the organizational vision. A Vision is an idealized state desired three, five or ten years down the strategic road.

The strategist then articulates the reason for being basic purpose for establishing the organization. This is called the Mission Statement. Core Values often accompany the mission statement.

From the vision and mission, the strategist goes further down to Objectives, which are measurable end-results that determine the organization is getting closer or farther from its goals.

Each objective is then translated in to Key Result Areas (KRAs) where specific manifestations that the objective is being attained.

The KRAs, which are qualitative statements, are then quantified into no- nonsense Performance Indicators (PIs), which are quantitatively specified.

Based on the PIs, the organization then generates Alternative Strategies which can be employed to achieve this PIs.

The strategies are broken down into Action Programs which are, in turn, cascaded into Group Activities and Individual Tasks.

Finally, the resources required to deliver the Strategies, Programs, Activities, and Tasks (SPATs) are spelled out.

30
Q

The second sequence usually taken in the rational approach is from the bottom going on top or
called as _____.

A

THE BOTTOM-UP SEQUENCE

31
Q

THE BOTTOM-UP SEQUENCE:

The strategist grounds the organization to the realities of the environment it operates in. There are
two grounding environments – the _____ which is the area, industry or sector
affecting or being affected by the organization; and the _____, which is the
organization itself.

A
  1. External Environment
  2. Internal Environment
32
Q

THE BOTTOM-UP SEQUENCE:

The _____ is composed of the resources, manpower, systems, processes, capabilities
and constraints of the organization.

A

Internal Environment

33
Q

THE BOTTOM-UP SEQUENCE:

In the second sequence, the strategist must be able to determine the opportunities and threats (OT)
in the _____ in relation to its vision, mission and objectives (VMO).

A

External Environment

34
Q

THE BOTTOM-UP SEQUENCE:

The strategist must also be able to _____ the strengths and weaknesses (SW) of the organization
according to the same vision, mission and objectives.

A

distill

35
Q

THE BOTTOM-UP SEQUENCE:

Next, the strategist _____ the opportunities and threats (OT) from the external
environment with the strength and weaknesses (SW) of the internal environment in relation to the
vision, mission and objectives (VMO) of the organization.

A

compares and associates

36
Q

Give the steps in THE BOTTOM-UP SEQUENCE.

A

The second sequence usually taken in the rational approach is from the bottom going on top or
called as Bottom-up Sequence.

The strategist grounds the organization to the realities of the environment it operates in. There are
two grounding environments – the External Environment which is the area, industry or sector
affecting or being affected by the organization; and the Internal Environment, which is the
organization itself.

The Internal Environment is composed of the resources, manpower, systems, processes, capabilities
and constraints of the organization.

In the second sequence, the strategist must be able to determine the opportunities and threats (OT)
in the External Environment in relation to its vision, mission and objectives (VMO).

The strategist must also be able to distill the strengths and weaknesses (SW) of the organization
according to the same vision, mission and objectives.

Next, the strategist compares and associates the opportunities and threats (OT) from the external
environment with the strength and weaknesses (SW) of the internal environment in relation to the
vision, mission and objectives (VMO) of the organization.

37
Q

THE SWOT ANALYSIS:

Ask the question: How can strength take
advantage to the opportunities?

A

Strength-Opportunities (S-O) Strategic Options

38
Q

THE SWOT ANALYSIS:

Ask the question: How can strengths be used to
counteract threats that tend to hinder the attainment of objectives (VMO) and the exploitation of
opportunities?

A

Strengths-Threats (S-T) Strategic Options

39
Q

THE SWOT ANALYSIS:

Ask the question: How can weaknesses be
overcome to take advantage of or exploit the opportunities?

A

Weakness-Opportunities (WO) Strategic Options

40
Q

THE SWOT ANALYSIS:

Ask the question: How can weaknesses be
overcome to counteract threats that tend to hinder the attainment of the objectives (VMC) and
exploitation of opportunities?

A

Weaknesses- Threats (W-T) Strategic Options

41
Q

FOURTEEN F’S OF EFFECTIVE STRATEGIES:

This means it must be anchored on the realities of the
environment or the situation the organization is in. It must recognize major trends and directions in
the environment. It must take into the account what the organization can do and cannot do, what it
has and does not have.

A

Be Fundamentally Sound and Correct

42
Q

FOURTEEN F’S OF EFFECTIVE STRATEGIES:

It must be able to determine the most likely future scenario in order to properly
position the organization.

A

Have Foresight

43
Q

FOURTEEN F’S OF EFFECTIVE STRATEGIES:

The implementors of the strategies must empathize with
what they are doing. Otherwise, there motivational level would be low. They must actually identify
with their strategy based vision, values and preferences.

A

Take a Favoured Course of Action

44
Q

FOURTEEN F’S OF EFFECTIVE STRATEGIES:

Effective strategies are rifle shots a chosen target,
not shotgun blasts that scatter resources of the organization. They choose the few things that would
make a big difference.

A

Focus Efforts on a Few but Critical Activities

45
Q

FOURTEEN F’S OF EFFECTIVE STRATEGIES:

Organization must put full force and major
resources behind the strategies taken. They must “put their money where their mouth is”.

A

Have Force Behind the Chosen Few Things

46
Q

FOURTEEN F’S OF EFFECTIVE STRATEGIES:

A golfer or tennis player knows that hitting the ball is not enough. There must be a complete swing that directs the ball towards its chosen destination. The whole organization must
move to support its major thrusts all the way to final acceptance by and satisfaction of its client.

A

Follow Through

47
Q

FOURTEEN F’S OF EFFECTIVE STRATEGIES:

There must be consistency between the type of people operating within certain organizational structures and systems and the defined objectives, chosen strategies and
tasks of the organization.

A

Have a Fit Among the Objectives, Tasks, People, and Structure of the Organization

48
Q

FOURTEEN F’S OF EFFECTIVE STRATEGIES:

Unreachable stars have less motivating power than realizable
objectives within finite time frame of five, 10 to 20 years.

A

Have a Finite Time Frame

49
Q

FOURTEEN F’S OF EFFECTIVE STRATEGIES:

This means that strategies must be do-able by the organization. It must work
out to the field and produce a good benefit-cost relationship.

A

Be Feasible

50
Q

FOURTEEN F’S OF EFFECTIVE STRATEGIES:

Compartmentalized approaches leads to partial
solutions that often lead to greater problems. Organizations must look at the full implications
of relationships among variable in order to reinforce rather than cancel each other out.

A

Take a Full and Holistic Approach

51
Q

FOURTEEN F’S OF EFFECTIVE STRATEGIES:

Every action produces
a reaction and this reaction must be monitored closely and assessed as to whether it is
moving towards the desired objectives.

A

Get Feedback Through Good Monitoring and Evaluation System

52
Q

FOURTEEN F’S OF EFFECTIVE STRATEGIES:

Development organizations
tend to forget the very purpose of their strategy which is to positively affect the lives if
the people they are serving. Strategies must be therefore translate into impact that is
felt.

A

Be Felt with Sufficient Impact by the Intended Targets

53
Q

FOURTEEN F’S OF EFFECTIVE STRATEGIES:

The assumptions governing
strategies chosen may change over time. Hence, there is a need to modify, alter or
overhaul strategies in the face of environmental changes.

A

Be Flexible Depending on Environmental Changes

54
Q

FOURTEEN F’S OF EFFECTIVE STRATEGIES:

At the end of the day, the organization must be
responsible for its intended results and be accountable to its customers or beneficiaries
for such results. They should not concentrate on inputs or tasks only but should make
sure that these inputs or tasks lead to the desired outputs and outcomes.

A

Be Final Results Oriented

Strategic Management (Approaches to Strategizing - Planning Process) (2 decks)

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