Objectives, Strategies And Contingency Planning Flashcards
What is the hierarchy of objectives?
Aim -> corporate objective -> business objective -> functional objectives -> employee objectives
What does a functional strategy aim to do?
To try and improve the business performance
What does a business strategy aim to do?
Expand the business using external factors
What does a corporate strategy aim to do?
Usually aims to increase growth
What is a strategy?
The method in which we attempt to achieve objectives
What is a collaboration strategy?
Developing your company by working with other companies
What is a global/international strategy?
This is where a business transfers resources to another country which is currently lacking the resource
(eg skilled labour, raw materials)
What is contingency planning?
Planning for the unexpected
What are the three levels of response to a crisis?
1) management response
2) operational response
3) communication response
