18 Questions
What is the primary focus of long-term planning in an organization?
Creating a roadmap for the organization's future
Which aspect plays a significant role in global strategy for organizations?
Geopolitical factors
What is a key consideration in stakeholder involvement in strategic planning?
Creating value for all relevant parties
Why is adaptability important in a successful strategy?
To adjust to evolving market conditions and external factors
Which factor is crucial for organizations to remain competitive in the market?
Staying up-to-date with new technologies
What does an adaptive strategy focus on?
Adjusting to evolving market conditions and technology trends
Which approach to decision making involves relying on the gut feeling and personal experience of decision-makers?
Intuitive Approach
Which strategic element ensures the effective integration and adaptation of vision into actionable steps for long-term success?
Strategic Management
In which approach to decision making, data is gathered, analyzed, and options are evaluated based on objective criteria?
Rational Approach
Which organization's decision-making approach may lead to decisions influenced by power dynamics and political considerations?
Infosys
Which strategic element translates vision into actionable steps?
Strategic Planning
Which decision-making approach involves making incremental adjustments over time?
Incremental Approach
Why does Mintzberg suggest that strategy formulation is not a continuous process?
External forces demand sudden and fundamental changes.
What is 'strategic drift' as described in the text?
Inertia leading to sticking with current strategies.
What triggers 'punctuated equilibrium' in organizations according to Mintzberg?
Disruptive events that force reassessment.
Why would a threat of a takeover by another company prompt an organization to reconsider its strategy?
To reassess and make fundamental changes to prevent takeover.
How does a performance gap, such as falling short on sales or profits, impact strategic decision-making?
It necessitates reassessment and fundamental changes in strategy.
Why does Mintzberg propose that organizations tend to maintain their current strategies until issues arise?
To resist making any strategic adjustments.
Test your knowledge on contingency planning, risk mitigation strategies, long-term planning, global strategy, and organizational sustainability. Explore how organizations consider international markets and geopolitical factors in strategic planning.
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