UNIT 8 : Strategic Direction Flashcards
What do strategic choices involve deciding
2 points
direction a bs should move
and
methods it can use to pursue its plan
define Strategic Direction : refers to the
descisions made regarding markets bs competes in and the products it offers
Managers must regularly review where
their business is at any moment
and
where it should be headed
why must maanagers regularly review where their business is at any moment and where it should be headed
hint dynamics
cuz the continuous in and ex change of the bs enviro
as the nature of bs is dynamic and managers must constantly review where business is at any moment and where its headed whar does this mean for strategic direction of a bs
it will change
a chief executive will keep monitoring…
hint measures
key measures of performance for bs
why will chief exec keep monitoring key measures of perfomrance form business
make sure all’s on target
why wil a chief exec keep reviweing plans
hitn strategic drift*
make sure they remain relevant to the bs enviro in which it operates - (can aid prevention of strategic drift)
changes in bs enviro may require a changes in
strategic direcition
in some cases changes in the bs enviro can change
shape of company over time
Nokia began as
paper producer
nintendo started by producing
playing cards
for exmaple with nintendo and nokia the SD of businesses changed becasue
opps emerged in new mkts, with new products
and
as threats have developed in their existing market
