Chapter 2 - Strat Development

Question 1

Steps in strat development

Answer 1

1. Analyse your context and environment
   a) Organisation b) Environment c) Stakeholders d) Customers e) Competitors
2. Identify strategic options
   a) Brainstorm options b) Examine opp c) solve problems
3. Evaluating & Selecting strategic options
   a) Evaluate options
   b) Choose best way

Question 2

Master strategy

Answer 2

1. Two inseparable parts
   a) Business strategy
   b) Corporate strategy

Question 3

Stages in strat planning

Answer 3

1. Strat option generation
2. Strat option evaluation
3. Start selection

Question 4

Steps in strat planning

Answer 4

1. Interior analysis
2. External analysis
3. Summarise current situation
4. Development of mission , vision and purpose statement
5. Goal setting
6. Define Objectives- support goals
7. Development of strategy

Question 5

Steps in contingency planning

Answer 5

1. Identify beneficial and unfavorable events
2. Specify trigger points when events likely to occur
3. Assess impact, estimate potential benefit/harm
4. Develop contingency plan- feasible
5. Asses counter impact
6. Develop early warning signals
7. If signal reliable - develop advanced action plan

Question 6

Logical Incrementalism

Answer 6

1. Philospohy- achieve- broad org goals
2. Strat decisons- small steps
3. Reduce risk-knowledge-during process
   4.