Chapter 1: Underlying principles of Corporate Management Flashcards
What si the difference between Corporate Mission and Corporate Vision
Vision: motivate and provide a compass for action (orientation, motivation, legitimation)
Mission: purpose and object of current corporate activity
What is Corporate Identity
How the company sees itself: appearance,conduct, communication
Internally and Externally
What si Corporate Design
Communication, behaviour, philosophy, culture
What are the Goals of Corporate Design, mission, vision…
Success Targets
Financial Targets
Product and Market Targets
Social Targets
Ecological Targets
Power and Prestige Targets
What is the goal criteria
SMART: Specific, Measurable, Achievable, Relevant Timely
What are the systems of interrelated goals
Competing Goals
Complementary Goals
Indifferent Goals
Antinomous Goals
What is the definition of Corporate Governance
The systems/processes that guide and control a company ensuring fairness and transparency in relationship between company’s management and stakeholders
Give the 5 Examples of Corporate Governance
1) Board of Director’s Oversight
2) Executive compensation Policies
3) Internal Controls and Auditing
4) Shareholders rights and engagement
5) Ethical business conduct and CSR
What is compliance in Corporate Governance
It means ensuring the company adheres to relevant laws and regulations
What is the meaning of Strategy
A plan or method to achieve a goal or effect
How do you achieve a Successful Strategy
Simple, consistent long-term goals
Profound understanding of the competitive environment
Objective appraisal of resources
What factors should a successful strategy consider
External analysis (threats and opportunities)
Internal analysis (strengths and weaknesses)
What is Strategic Planning
Corporate Strategy
Business Strategy
Funtional Strategy
What is the Ansoff Matrix
Market Penetration: Current Product, Current Market
Product Development: Current Product, New Market
Market Development: Current Market, New Product
Diversification: New Product, New Market
What is the PESTEL Analysis
Political
Economical
Social
Technical
Environmental
Legal
What is the SWOT Analysis
Internal analysis (strengths and weaknesses)
External analysis (threats and opportunities)
