What is Strategy?

Question 2

What are the 4 Ways to Define and Organisation’s Purpose?

Answer 2

Mission Statement
Vision Statement
Statement of Corporate Values
Statement of Objectives

Question 3

What is a Mission Statement?

Answer 3

Provides employees & stakeholders clarity about what organisation is there to do.

Question 4

What is a Vision Statement?

Answer 4

Concerned with the future organisation seeks to create.

Question 5

What is the Statement of Corporate Values?

Answer 5

Communicates core principles that guides organisations strategy and operation.

Question 6

What is the Statement of Objectives?

Answer 6

Statements of specific outcomes that are to be achieved.

Question 7

Summaries Management Strategy:

Answer 7

Strategy = LR direction of organisation.
Strategy is the work done by managers, specialists, and strategic planners/consultants throughout organisation

Question 8

What are the Levels of Strategy?

Answer 8

Corporate Level Strategy
Business Level Strategy
Functional Strategy

Question 9

What is Corporate Level Strategy?

Answer 9

Concerned with overall purpose and scope of organisation.

Question 10

What is What is Business Level Strategy?

Answer 10

Concerned with the way business seeks to compete successfully.

Question 11

What is What is Functional Strategy?

Answer 11

Concerned with how different parts of organisation deliver strategy in terms of managing resources, processes and people.