SEMIFINALS:PPT.5:STRATEGIC FORMULATION

Question 1

the process of creating a strategic plan for an organization by defining its direction and making decisions about how to achieve its objectives

Answer 1

Strategic formulation

Question 2

The long-term aspiration of the organization-what it wants to become In the future

Answer 2

Vision

Question 3

A concise statement describing the organization’s purpose, values. and primary objectives.

Answer 3

Mission

Question 4

Identify the firm’s internal strengths and weaknesses by evaluating resources, capabilities, core competencies, organizational structure, culture, financial health, and current performance

Answer 4

Strength and weaknesses

Question 5

Assess tangible and intangible resources and evaluate operational efficiency, innovation capabilities, and marketing strengths.

Answer 5

Resources and Capabilities:

Question 6

What r the tools for external analysis?

Answer 6

1. Opportunities and threats
2. Pestle analysis
3. Porters five forces

Question 8

Assets and capabilities firm utilizes to create value, build competitive advantage, and sustains it’s operation.

Answer 8

Resources

Question 9

Physical, measurable assets like buildings, machinery, and inventory.

Answer 9

Tangible Resources

Question 10

Non-physical assets like intellectual property, brand equity, and organizational culture.

Answer 10

Intangible Resources

Question 11

The skills, knowledge, and creativity of employees contribute to innovation and competitiveness.

Answer 11

Human Resources (People)

Question 12

Abilities to utilize resources and coordinate activities to meet objectives.

Answer 12

Organizational Capabilities

Question 13

Funds available for growth, expansion, and economic resilience.

Answer 13

Financial Resources and Capital Structure

Question 15

Infrastructure and equipment essential for operations.

Answer 15

Physical Assets and infastructure

Question 16

The ability to leverage resources to perform activities efficiently and meet strategic goals.

Answer 16

Internal Capabilities

Question 17

Developing new products, services, or processes for differentiation and competitive advantage.

Answer 17

Innovation Capability

Question 19

Managing day-to-day activities to maintain quality and competitive costs.

Answer 19

Operational Capability

Question 20

Building lasting relationships to enhance loyalty and satisfaction.

Answer 20

Customer Relationship Capability

Question 21

Creating, maintaining, and enhancing brand identity to achieve loyalty and market share.

Answer 21

Brand Management Capability

Question 22

Attracting, retaining, and deploying skilled employees effectively.

Answer 22

Human Resource and talent Management Capability

Question 23

Handling financial resources to ensure operational stability and growth.

Answer 23

Financial Management Capability

Question 24

Using technology to improve operations, innovate, and enhance customer experiences.

Answer 24

Technological Capability

Question 25

Promoting products/services and converting leads into customers.

Answer 25

Marketing and Sales Capability:

Question 26

Setting goals and executing plans effectively.

Answer 26

Strategic Planning and Execution Capability

Question 27

Gathering, storing, and applying knowledge to drive innovation and efficiency

Answer 27

Knowledge Management Capability

Question 28

Unique capabilities critical to gaining competitive advantage. Example:Integration of resources and capabilities to deliver exceptional value.

Answer 28

Core competencies