NKE

Question 1

What are the five types of strategies organizations engage in?

Answer 1

corporate
restructuring
growth
maintenance
business + competitive position

Question 2

The strategic planning process includes (7):

Answer 2

1. corporate governance
2. economic, societal, technological, political + demographic trends and HR
3. leadership theories
4. organization development principles + practices
5. organization design + structure
6. change management
7. risk management

Question 3

Organizational strategy is

Answer 3

the formulation of strategies as well as the goals, objectives, and action plans for gaining competitive advantage.

Question 4

Intended Strategy is

Answer 4

a strategy that is formulated at the beginning of the planning year.

Question 5

Emergent Strategy is

Answer 5

a strategy that is formulated in response to an unexpected event

Question 6

Realized Strategy is

Answer 6

a strategy that is implemented, which could be the intended strategy or an emergent strategy

Question 7

What are three growth strategies?

Answer 7

1. organic or incremental growth
2. global or international growth
3. mergers + acquisitions

Question 8

What are four restructuring strategies?

Answer 8

1. turnaround also known as retrenchment- refocus efforts on particular products or services, launch a new product or service, stop selling unsuccessful products, reduce workforce, create efficiencies etc.
2. divestiture- selling a division or part of the business that creates a certain product or service to another organization
3. liquidation- selling off assets at bargain prices, closing businesses, and laying off employees
4. bankruptcy- when businesses cannot pay creditors, they may be forced to cease operations

Question 9

The Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act both provide a proposal regime to allow the debtor (company) to:

Answer 9

-reorganize and reach compromises with its creditor.

If the plan of arrangement is approved both by the court and creditors, it continues forward following the plan.

Question 10

Why do organizations choose a Maintenance or Stability Strategy?

Answer 10

• organizations choose this strategy to maintain stability
• some may choose this in times of difficult economic conditions
• these strategies have less impact on human resources

Question 11

What are five competitive positioning strategies?

Answer 11

1. low-cost provider (pricing product or service lower than competition)
2. broad differentiation (differentiate product to appeal to broad range of customers)
3. best-cost (more value for their money)
4. focused or market niche based on lower cost (to a select group of customers)
5. focused or market niche based on differentiation (ex. luxury goods)

Question 12

A vision statement answers the question:

Answer 12

where are we going?

Question 13

A mission statement answers the question:

Answer 13

why do we exist?

Question 14

Values describe:

Answer 14

1. the behaviours that enable the organization to accomplish it’s mission
2. the basic beliefs that govern behaviour in an organization

Question 15

Objectives can be both hard and soft. What are hard objectives? What are soft objectives?

Answer 15

Hard// the goals that express, in measurable terms, what an organization intends to achieve

Soft//the goals that define the targets of social conduct for the organization and may not always be quantifiable

Question 16

What does PESTD stand for?

Answer 16

Political
Economical
Social
Technological
Demographic