UNIT I - Strategic Analysis

Question 1

refer to the organization’s vision (long- term direction), mission (purpose), and strategic objectives (operational plans).

Answer 1

Organizational goals

Question 2

long- term direction

Answer 2

organization’s vision

Question 3

purpose

Answer 3

mission

Question 4

operational plans

Answer 4

strategic objectives

Question 5

refers to the structured arrangement of goals, typically organized from broad, overarching objectives to more specific, detailed goals

Answer 5

Organizational goal hierarchy

Question 6

a goal that is massively inspiring, overarching, and long term.

Answer 6

Vision

Question 7

a picture of what the organization wants to be in the future

Answer 7

Vision

Question 8

a destination that is driven by and evokes passion

Answer 8

Vision

Question 9

the ideal description of an organization and gives shape to its intended future

Answer 9

Vision

Question 10

It embodies a destination propelled by and evoking passion.

Answer 10

Vision

Question 11

It paints a clear picture of what the organization aspires to become and accomplish in the future.

Answer 11

Vision

Question 12

It should be closely aligned with the prevailing conditions of the firm’s external and internal environment.

Answer 12

Vision

Question 13

is a goal that is massively inspiring, overarching, and long term.

Answer 13

Vision

Question 14

Why Visions Fail? Leaders’ behaviors must be aligned with stated vision.

Answer 14

The walk doesn’t match the talk

Question 15

Why Visions Fail? Not aligned with the needs and goals of the organization or its stakeholders.

Answer 15

Irrelevant

Question 16

Why Visions Fail? A vision should be flexible enough to adapt to changing circumstances and opportunities.

Answer 16

Too much focus to miss opportunities

Question 17

Successful visions are those that are _____, _________, and ______ enough to respond to changing circumstances.

Answer 17

meaningful
aligned with actions
flexible

Question 18

Cascading of the organizational goals with stakeholders.

Answer 18

Shared vision

Question 19

Support with policies and strategies/activities.

Answer 19

Synergy

Question 20

is the unique purpose of the organization

Answer 20

Mission

Question 21

the reason for existence

Answer 21

Mission

Question 22

commitment to satisfy the stakeholders’ expectations

Answer 22

Mission

Question 23

Japanese Term - A reason for being, a sense of purpose in life that brings fulfillment and happiness.

Answer 23

Ikigai

Question 24

French Term - “Reason for being.“ “Why someone exists.”

Answer 24

Raison d’être

Question 25

It must be compelling, passionate, and energizing.

Answer 25

Characteristics of a good mission

Question 26

It should create a sense of pride and belonging among stakeholders.

Answer 26

Characteristics of a good mission

Question 27

It should be relevant to all stakeholders, aligning with their values and aspirations.

Answer 27

Characteristics of a good mission

Question 28

It should demonstrate how the organization's goals benefit the stakeholders and society as a whole.

Answer 28

Characteristics of a good mission

Question 29

Characteristics of a good mission. the moral compass for decision-making.

Answer 29

Aligned with the Core Values of the Organization

Question 30

Characteristics of a good mission. It should be easily recalled by stakeholders. It should resonate with them and leave a lasting impression.

Answer 30

Memorable

Question 31

Characteristics of a good mission. It provides a clear direction for stakeholders. It should outline specific goals and objectives that can be pursued.

Answer 31

Actionable

Question 32

Internal Uses of a Good Mission

Answer 32

1. Guide management’s thinking on strategic issues. 2. Helps define performance standards. 3. Inspire employees to work more productively. 4. Guide employee decision-making. 5. Help establish a framework for ethical behavior.

Question 33

External Uses of a Good Mission

Answer 33

1. Enlist external support. 2. Create closer linkages and better communication with customers, suppliers, and alliance partners 3. Serve as a public relation tool.

Question 34

How is the mission formulated?

Answer 34

1. Identification of Stakeholders 2. Understanding of specific claims/expectations vis-à-vis the company. 3. Reconciliation of claims/expectations and assigning them priorities 4. Coordination of claims/expectations with other elements of the mission.

Question 35

Expectation of Stakeholders. Dividend, capital appreciation

Answer 35

Stockholders

Question 36

Expectation of Stakeholders. Wages, benefits, safe working environment, job security. Work-life balance, employee engagement, work-from-home.

Answer 36

Employees

Question 37

Expectation of Stakeholders. Payment on time; assurance of continued relationships.

Answer 37

Suppliers

Question 38

Expectation of Stakeholders. Payment of interest; repayment of principal

Answer 38

Creditors

Question 39

Expectation of Stakeholders. Value; warranties, customer satisfaction

Answer 39

Customers

Question 40

Expectation of Stakeholders. Taxes; compliance with laws and regulations

Answer 40

Government

Question 41

Expectation of Stakeholders. Good citizenship behavior, ie. CSR

Answer 41

Community

Question 42

are used to operationalize the mission statement

Answer 42

Strategic objectives

Question 43

they help to provide guidance on how the organization fulfills or move toward the “higher goal” in the goal hierarchy- the mission and vision.

Answer 43

Strategic objectives

Question 44

Characteristics of a Meaningful Strategic Objectives

Answer 44

Specific Measurable Appropriate Realistic Timely

Question 45

This provides a clear message as to what needs to be accomplished.

Answer 45

Specific Strategic Objectives

Question 46

There must be at least one indicator (yardstick) that measures progress against fulfilling the objective.

Answer 46

Measurable Strategic Objectives

Question 47

It must be consistent with the vision and mission of the organization.

Answer 47

Appropriate Strategic Objectives

Question 48

It must be an achievable target given the organization’s capabilities and opportunities in the environment. In essence, it must challenging but doable.

Answer 48

Realistic Strategic Objectives

Question 49

There needs to be a time frame for accomplishing the objective.

Answer 49

Timely Strategic Objectives

Question 50

S-M-A-R-T. Financial Objective Increase quarterly sales revenue by 10% in Q2 by expanding the distribution network and launching promotional discounts on high-margin products.

Answer 50

Specific: Focuses on increasing sales revenue. Measurable: Targets a 10% increase. Appropriate: Aligns with the company’s growth strategy. Realistic: Achievable through an expanded distribution network and promotions. Timely: Set for the second quarter of the year.

Question 51

S-M-A-R-T. Marketing Objective Grow social media engagement by 25% in six months through targeted content marketing, influencer collaborations, and paid ad campaigns.

Answer 51

Specific Focuses on increasing engagement through social media strategies. Measurable Targets a 25% increase in engagement. Appropriate Supports brand awareness and customer retention goals. Realistic Achievable with a strong content plan and ad spend. Timely To be completed in six months.