Topic 12 Flashcards
1
Q
What is SWOT, and what does it stand for?
A
A technique used as an aid in strategic planning and is often used as initial step in strategic management process.
Strength, Weakness - Internal assessment
Opportunities, Threats - External Assessment
2
Q
What are the levels of Planning/ Decision making?
A
- Strategic (long term 3+ years)
-Tactical (short term 1-3 years)
-Operational (immediate term)
3
Q
Which managers are responsible for which levels of planning and decision making?
A
Senior - Strategic
Middle management -Tactical
Front Line - Operational
4
Q
What are some examples of strategic planning?
A
- Market analysis and forecasting
- Organisational objectives
5
Q
What are some examples of tactical planning?
A
- Sales and marketing decisions
- Stock policies
6
Q
What are some examples of Operational planning?
A
- Sales order processing
- Stock control
