strategic plans and risk management

Question 1

what are mintzberg’s 5 p’s of strategy?

Answer 1

plan,ploy,pattern,position, perspective

Question 2

what is the positioning based view?

Answer 2

about identifying opportunities in the environment and developing strategic capability to take advantage of them

Question 3

what is the resource based view?

Answer 3

strategies are developed based on the unique capabilities of the businessand opportunities should be sought to allow the business to exploit these capabilities to achieve competitive advantage

Question 4

4 key stages of the rational planning model?

Answer 4

strategic analysis-strategic choice-stretegy implementation-review and control

Question 5

what is the emergent approach to strategy?

Answer 5

it allows the strategy to evolve and emerge= it is less strucutred than using the rational planning model

Question 6

what 3 types of strategy should a business have?

Answer 6

• competitive
• product market
• institutional

Question 7

what is strategy implementation?

Answer 7

conversion of the strategies chosen into detailed plans or objectives for operating units

Question 8

what is a task environment?

Answer 8

factors of particular relevance to the business

Question 9

4 s’s for a static envornment?

Answer 9

static
single
simple
safe

Question 10

4 d’s for dynaimc envornment?

Answer 10

dynamic
diverse
difficult
dangerous

Question 11

PESTEL?

Answer 11

political
economic
social
technological
ecological
legal

Question 12

what is a market?

Answer 12

comprises the customers or potential customers who have needs which are satisfied by a product or service

Question 13

what is an industry?

Answer 13

comprises those businesses which use a particular competence, technology, product or service