Podcast
Questions and Answers
What is strategy formulation?
What is strategy formulation?
Formulating long-term organizational plans to assist in carrying out activities.
Who typically develops the vision statement of an organization?
Who typically develops the vision statement of an organization?
Top management which may include CEO, President, managing director, chairman, etc.
How would you define the mission statement of an organization?
How would you define the mission statement of an organization?
It describes the reason for the existence of the organization and specifies its culture and values.
Why are long-term objectives important in strategy formulation?
Why are long-term objectives important in strategy formulation?
What does a strategy of an organization help in realizing?
What does a strategy of an organization help in realizing?
Name one area that objectives of an organization may include.
Name one area that objectives of an organization may include.
What is the goal of the capstone course recommended by the Ford Foundation for business schools?
What is the goal of the capstone course recommended by the Ford Foundation for business schools?
What is the role of a chief strategy officer (CSO) in many companies today?
What is the role of a chief strategy officer (CSO) in many companies today?
According to the characteristics outlined, why is strategy considered a systematic phenomenon?
According to the characteristics outlined, why is strategy considered a systematic phenomenon?
How is strategy described as multidisciplinary?
How is strategy described as multidisciplinary?
Explain the hierarchical nature of strategy as outlined in the text.
Explain the hierarchical nature of strategy as outlined in the text.
What distinguishes a good idea from a strategy according to the text?
What distinguishes a good idea from a strategy according to the text?
What do policies refer to in strategy formulation and implementation?
What do policies refer to in strategy formulation and implementation?
What is the focus of corporate level strategy?
What is the focus of corporate level strategy?
Which level of strategy formulation concentrates on daily actions and resource allocation?
Which level of strategy formulation concentrates on daily actions and resource allocation?
What is the purpose of business level strategy?
What is the purpose of business level strategy?
What is the next step after formulating a strategy?
What is the next step after formulating a strategy?
Name one decision area that policies may focus on.
Name one decision area that policies may focus on.
What are the two main aspects that a good strategy aims at in terms of a company's market opportunities?
What are the two main aspects that a good strategy aims at in terms of a company's market opportunities?
What is a core competency in the context of a company's resources and capabilities?
What is a core competency in the context of a company's resources and capabilities?
Give three examples of core competencies.
Give three examples of core competencies.
What are the characteristics of core competencies that make them valuable?
What are the characteristics of core competencies that make them valuable?
Why is rarity an important feature of core competencies?
Why is rarity an important feature of core competencies?
What does it mean for core competencies to be difficult to imitate?
What does it mean for core competencies to be difficult to imitate?
What is the importance of successful implementation in strategic management?
What is the importance of successful implementation in strategic management?
How should strategic management be approached in terms of involving people?
How should strategic management be approached in terms of involving people?
What is the significance of keeping the strategic management process simple?
What is the significance of keeping the strategic management process simple?
Why should strategic management welcome bad news?
Why should strategic management welcome bad news?
How does societal, political, regulatory, and citizenship factors influence strategy?
How does societal, political, regulatory, and citizenship factors influence strategy?
Why is it important for a company's strategy to be tailored to fit competitive conditions?
Why is it important for a company's strategy to be tailored to fit competitive conditions?
