BST - strategy and business (2) Flashcards
1
Q
What is meant by strategy?
A
How the company is going to grow
2
Q
5 reasons that make planning strategic
A
It considers the longer term
considers the whole organisation
considers the resources and external environment
it considers all stakeholders
it looks at how the gain a SUSTAINABLE COMPETITIVE ADVANTAGE
3
Q
What is the rational/traditional/formal/top-down approach to to strategic planning?
A
Goals are identified and then strategies are selected to achieve these goals
