Chapter 7 planning

Question 1

Planning

Answer 1

Is defined as specifying desired organization results, or outcomes, as well as I cannot find the means for achieving these results

Question 2

Goals

Answer 2

Is our statements of desired results

Question 3

Objectives

Answer 3

Specific statements of intended outcomes

Question 4

Plans

Answer 4

And specify the means, or activities, but are chosen to reach goals and objectives

Question 5

Single use plans

Answer 5

Single use plans are only used in one occasion or instance

Question 6

Standing plans plans

Answer 6

Standing plans are used over and over they can also be called reoccurring plans

Question 7

Strategy

Answer 7

Rata G is the set of activities designed to help an organization or business achieve its goals

Question 8

Porters competitive forces

Answer 8

These include potential new entrance, threat of substitute products, bargaining power of buyers, bargaining power of suppliers, rivalry among competitors

Question 9

Potential new entrance

Answer 9

Ease with which a new business can be established to complete

Question 10

Threat of substitute products

Answer 10

Alternate products available that could compete with the company’s products

Question 11

Bargaining power of buyers

Answer 11

How inform customers are and how they wield their knowledge

Question 12

Bargaining power of suppliers

Answer 12

Concentration of suppliers and their ability to dictate terms

Question 13

Rivalry among competitors

Answer 13

A few powerful competitors means intense rivalry

Question 14

Strategic planning process

Answer 14

This is when a firm first assess his current performance, mission, goals, and strategy then performs the swot analysis then develops a new mission and goals then formulate a strategy then implement the strategy

Question 15

Differentiation strategy

Answer 15

A differentiation strategy find some basis for being different. The differences can be based on product features or organizational qualities

Question 16

Cost leadership

Answer 16

This strategy is based on price. And organization can be built around low costs and find efficient Hayes to buy and distribute

Question 17

Focus

Answer 17

The strategy identifies a specific customer group, or niche, in the marketplace that the company will serve

Question 18

Contingency plan

Answer 18

A contingency is an unexpected event and having a contingency plan for various types of events enables the organization to respond quickly and effectively

Question 19

Benchmarking

Answer 19

Companies do not need to spend a lot of time developing what they already have done or learned. Benchmarking involves a manager or team of employees analyzing other companies processes