Lesson 1 I Part 1

Question 1

This is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals, establish agreement around intended outcomes/results, and
assess and adjust the organization’s direction in response to a changing environment.

Answer 1

Strategic Planning

Question 2

________________ is a disciplined effort that produces fundamental decisions and actions that shape and guide what an organization is, who it serves, what it does, and why it does it, with a focus on the future.

Answer 2

Strategic Planning

Question 3

Define Strategic Planning

Answer 3

Strategic Planning is the process of documenting and establishing a direction of your business by assessing both where you are and where you’re going.

Question 4

_____________________ articulates not only where an organization is going and the actions needed to make progress, but also how it will know if it is successful.

Answer 4

Effective Strategic Planning

Question 5

This is a document used to communicate with the organization the organizations goals, the actions needed to
achieve those goals and all of the other critical elements developed during the planning exercise.

Answer 5

Strategic Plan

Question 6

It gives you a place to record your mission, vision, and values, as well as your long-term goals and the action plans, you’ll use to reach them.

Answer 6

Strategic Plan

Question 7

A well-written strategic plan can play a pivotal role in your small business’s growth and success because ________________________.

Answer 7

It tells you and your employees how best to respond to opportunities and challenges.

Question 8

Define Strategic Map

Answer 8

A Strategy Map is a simple graphic that shows a logical, cause-and-effect connection between strategic objectives.

Question 9

It is one of the most powerful elements associated with the balanced scorecard methodology, as it is used to quickly communicate how value is created by the organization. It can vastly improve any strategy communication effort. Plus, the process of developing a strategy map forces the team to agree on what they are trying to accomplish in simple, easy-to-understand terms.

Answer 9

Strategic Map

Question 10

With a well-designed strategy map, ____________________________.

Answer 10

Every employee can see how they contribute to the achievement of the organization’s objectives.

Question 11

Define Strategic Management

Answer 11

It entails evaluating business goals, the organization’s vision and objectives as well as the future plans.

Question 12

In furtherance, a __________________ is employed to ensure that the business runs effectively and efficiently.

Answer 12

Strategic Management Process

Question 13

Communicating this strategy internally and externally is crucial for success, in order for both staff and the organization to understand the purpose and direction along with external parties understanding what you as an organization stands for.

Answer 13

Strategic Management

Question 14

The Role of Strategic Management in Business:

Strategic Management is a broad term that includes a.______________, a b._____________ and c.___________.

Answer 14

a. innovative thinking
b. strategic planning process
c. operational strategizing.

Question 15

The Role of Strategic Management in Business:

Relies largely on __________. It is imperative that for a business strategy to be successful, customers’ opinions, employees’ contribution best practices are all taken into account.

Answer 15

Research

Question 16

The Role of Strategic Management in Business:

A common way to encourage strategic business management, is _______________________, have trustees with valued and varied experience, and to carefully consider the impacts of decisions on each business function within the organization.

Answer 16

To incorporate a lot of planning into board meetings

Question 17

The Role of Strategic Management in Business:

Annual plans for businesses are often put together, but within the 21st Century, it is important to be ________ and _____________________.

Answer 17

Flexible and Adapt to Changing Environments and Demands.

Question 18

The main importance of business management is to assist the business’ profit and decision making, yet its functions can also be broken down.

Answer 18

To assist the business’ profit and decision making.

Question 19

Some Reasons Why Strategic Management is a Crucial Business Practice as Suggested by Gisma Business School

Answer 19

1. Planning
2. Forward Thinking
3. Resource Allocation
4. Strengths and Weaknesses
5. Environmental Impact

Question 20

Reasons Why Strategic Management is a Crucial Business Practice:

This is an essential
management tool for any
company. The main task in the
strategic _________ process is predicting future trends that will help the business in building. In
order to make this happen,
strategic ________ tools need to
be used instead of simple _________ processes.

Answer 20

Planning

Question 21

Reasons Why Strategic Management is a Crucial Business Practice:

When running a business, you
must know how your business impacts the environment and
vice-versa. Strategy management involves being aware of the future potential shifts in the market that may affect the business and its
__________________.

Answer 21

Environmental Impact

Question 22

Reasons Why Strategic Management is a Crucial Business Practice:

No one knows a business better than its owner, who will be able to recognize the ____________ and _____________ of their company. However, just being aware of the shortcomings and strong points of a business is not enough. Strategic planning is employed to bridge the gap between the capability void and the strength of a company.

Answer 22

Strengths and Weaknesses

Question 23

Reasons Why Strategic Management is a Crucial Business Practice:

The tough aspect of strategy
management is that you are
pushed to make choices under
pressure, often with limited
resources. Strategy management
teaches you to ensure the company’s resources, in terms of
products and services, are used wisely and vested in the most promising opportunities. This is why a good strategy manager will tell you that less is more, as long as it is the best.

Answer 23

Resource Allocation

Question 24

Reasons Why Strategic Management is a Crucial Business Practice:

Through a well thought out strategy, you will be able to draw up clear, long-term goals. These
goals are important so that you have a distinct idea of how to move forward which can prove beneficial for an organization’s overall growth.

Answer 24

Forward Thinking

Question 25

Basic Steps in Strategic Planning and Management

Answer 25

1. ANALYSIS OR ASSESSMENT
   where an understanding of the current internal and external environments is developed;
2. STRATEGY FORMULATION
   where high level strategy is developed, and a basic organization level strategic plan is documented;
3. STRATEGY EXECUTION
   where high level strategy is developed, and a basic organization level strategic plan is documented
4. EVALUATION OR SUSTAINMENT / MANAGEMENT PHASE
   where ongoing refinement and evaluation of performance, culture, communications, data
   reporting, and other strategic management issues occurs.

Question 26

According to Kruse (2013), ___________ has the characteristics that is considered to be on the “not” aspect description in management.

Answer 26

Leadership

Question 27

It has nothing to do with seniority or one’s position in the hierarchy of a company. It is not a guarantee that the ones who belongs to the top paying positions are capable or having these skills.

Furthermore, it has nothing to do with titles. This is similar to the first descriptions. Title will not make you a leader. One can lead without having a title.

Ultimately, it had nothing to do with personal attributes. It has nothing to do with the attribute of being charismatic or being an extrovert. The word leader is not considered as an adjective.

Answer 27

Leadership

Question 28

Leadership isn’t _____________. The terms are not similar or means the same. Managers or managing deals with the resources and get things done while leadership or leading is focus on leading the people.

Answer 28

Management

Question 29

Define Leadership.

Answer 29

Leadership is considered as a process of influencing people socially and maximized the efforts of others in achieving the goal.

Question 30

Leadership comes from the ______________ rather than the power or authority.

Answer 30

social influence

Question 31

Leadership asks others to comply and thus they don’t need to be _______________.

Answer 31

directly reporting

Question 32

_____________ and ____________, ________________ is not mentioned in defining leadership.

Answer 32

a. Personal traits
b. Attributes
c. Positions or Titles

Question 33

The _______ is emphasized to be realized in leadership.

Answer 33

goal

Question 34

The most important thing is that in the definition by Kruse to leadership, it gives the insight that the efforts are ____________.

Answer 34

maximized

Question 35

Define Strategic Leadership.

Answer 35

The definition of Strategic Leadership is focused on the managers’ capability to realized the strategic vision of the organization through his/ her influence to other people.

Question 36

It can also be defined as a management as a strategy to manage employees. In which it is done by affecting the members of the organization to implement the organizational change.

Answer 36

Strategic Leadership

Question 37

______________ are also described as leaders that makes the organizational structure, distribute resources and conveys the strategic vision. These leaders also work in an ambiguous environment with hardships as they come to realize the vision along with challenges within and outside the organization.

Answer 37

Strategic Leaders

Question 38

This aims for strategic productivity and develop an environment wherein the members of the organization are anticipate the needs in their respective job (being proactive). The leaders also encourage the employees to push through with their ideas. They also believe more in the implementation of reward and incentive system to motivate productivity and quality among the employees for better organizational outcomes.

Answer 38

Strategic Leadership

Question 39

The functional strategic leadership is more about _______________, _____________ and ___________ to assist an individual in making the objectives and goals of the organization come true.

Answer 39

a. Inventiveness
b. Perception
c. Planning

Question 40

The _____________________ needs to forecast and understand work environment. It needs to be objective and capability to look at the whole picture.

Answer 40

Strategic Leadership

Question 41

The Traits/Characteristics/Features and Qualities of a Strategic Leaders (12 Traits)

Answer 41

1. Loyalty
2. Keeping them updated
3. Judicious use of power
4. Have wider perspective/outlook
5. Motivation
6. Compassion
7. Self-Control
8. Social Skills
9. Self-Awareness
10. Readiness to delegate and authorize
11. Articulacy
12. Constancy/ Reliability

Question 42

Identify the trait of a Strategic Leader:

Leaders who are powerful and effective manifests their __________ to the end goals of the organization through their words and actions.

Answer 42

Loyalty

Question 43

Identify the trait of a Strategic Leader:

Leaders who are both effective and efficient are needed to be updated with what is happening within their organizations. They should have connection whether formal or informal to get information for their organization.

Answer 43

Keeping them updated

Question 44

Identify the trait of a Strategic Leader:

Leaders should make use their power and should not power trip. They should know how to sell their ideas rather than forcing their ideas to others. They should also convey their ideas gradually.

Answer 44

Judicious use of power

Question 45

Identify the trait of a Strategic Leader:

Leaders should have the knowledge and skills that is needed in their specialization.

Answer 45

Have wider perspective/outlook

Question 46

Identify the trait of a Strategic Leader:

Leaders should have the passion for the work and does not consider only the compensation and authority. They should also have the drive to achieve their goals using their energy and persistence.

Answer 46

Motivation

Question 47

Identify the trait of a Strategic Leader:

Leaders should also consider the perspective of the people that is working within the organization. Their voices should also be heard during decision making process.

Answer 47

Compassion

Question 48

Identify the trait of a Strategic Leader:

Leaders must have the ability to control their own personal intentions and moods. They must always practice calmness and most especially thinking before acting.

Answer 48

Self-control

Question 49

Identify the trait of a Strategic Leader:

Leaders should be able to have interpersonal skills. They are expected to be well versed in approaching others– being friendly and sociable.

Answer 49

Social Skills

Question 50

Identify the trait of a Strategic Leader:

Leaders must have the capability to know and process his/ her own mood and emptions and its impact to other.

Answer 50

Self-awareness

Question 51

Identify the trait of a Strategic Leader:

Leaders must have effective skill in delegating. They should be aware of the fact that there is a need for delegation to avoid overloading or tasks and responsibilities in the leader. They should also appreciate that the authority they give to the subordinates will also give them the power to decide.

Answer 51

Readiness to delegate and authorize

Question 52

Identify the trait of a Strategic Leader:

Leaders are considered to be strong if they are able to relay properly to the members of the organization about the vision. This is to boost the members of the organization.

Answer 52

Articulacy

Question 53

Identify the trait of a Strategic Leader:

Leaders should be consistent in conveying the vision and make it as an organizational culture.

Answer 53

Constancy/Reliability

Question 54

Strategy is derived from the Greek words _________________, meaning army and ago, meaning leading or moving.

Answer 54

stratçgos/stratus

Question 55

A __________ is an action that managers take to attain one or more of the organization’s goals. It is a general direction set for the company and its various components to achieve a desired state in the future.

Answer 55

Strategy

Question 56

Strategy results from the detailed ________________________.

Answer 56

Strategic Planning Process

Question 57

___________ is all about integrating organizational activities and utilizing and allocating the scarce resources within the organizational environment so as to meet the present objectives. While planning a _________it is essential to consider that decisions are not taken in a vacuum and that any act taken by a firm is likely to be met by a reaction from those affected, competitors, customers, employees, or suppliers.

Answer 57

Strategy

Question 58

Strategy is the ___________________________ that shows its objectives and goals, reduces the key policies, and plans for achieving these goals, and defines the business the company is to carry on, the type of economic and human organization it wants to be, and the contribution it plans to make to its shareholders, customers and society at large

Answer 58

blueprint of decisions in an organization

Question 59

The Features of Strategy

Answer 59

1. Strategy is significant because it is not possible to foresee the future not unless you are the famous Nostradamus or the fiction
   character of Harry Potter having foresights of what is going to happen in the future. Without a perfect foresight, the firms must be ready to deal with the uncertain events which constitute the business environment.
2. Strategy deals with long term developments rather than routine operations, i.e., it deals with probability of innovations or new products, new methods of productions, or new markets to be developed in future.
3. Strategy is created to take into account the probable behavior of customers and competitors. Strategies dealing with employees will predict the employee behavior.

Question 60

This is a well-defined roadmap of an organization because it
defines the overall mission, vision and direction of an organization.

Answer 60

Strategy

Question 61

The objective of a strategy is _______________________________________.

Answer 61

To maximize an organization’s strengths and to minimize the strengths of the competitors.

Question 62

Strategy, in short, bridges the gap between ______________ and _______________.

Answer 62

a, “where we are”
b. “where we want to be”

Question 63

__________________________are best associated to strategizing, organizing, and implementing in order to give emphasis on practical business application.

Answer 63

Strategic planning and management

Question 64

As coined by Eduardo A. Morato, Jr. in his book Strategic Planning and Management, ______________ is about setting institutional goals and finding the best means to reach those goals. It bridges the chasm between where an organization is today and where it wants to be tomorrow.

Answer 64

Strategizing

Question 65

Strategies are the best means by which an organization can achieve its ____________.

Answer 65

desired ends