28 Questions
What is the main focus of planning?
Ends
Which type of plan covers less than one year?
Short-term plan
What does a mission statement define?
Business founders' vision
Which type of plan specifies the details of achieving overall objectives?
Tactical plan
How many steps are involved in the Strategic Management Process?
9
Which type of plan extends beyond five years?
Long-term plan
What type of strategy focuses on developing plans to improve the efficiency of a business's operations?
Functional strategy
Which type of strategy involves determining which market segments to target and how to differentiate from competitors?
Differentiation strategy
At which level of the organization are Corporate strategies primarily focused?
Senior Management
Which type of strategy plans for a company's competitive advantage in a market over its rivals?
Business strategy
What is the primary purpose of an organization's Mission Statement?
Attract investors and customers
Which level of management is responsible for developing Tactical Goals/Plans?
Middle Management
What is the purpose of the Core Business Statement in a strategic plan?
To define the primary focus of the organization's operations
Which component of a strategic plan focuses on behaviors and ideas important to the organization?
Core Values and Beliefs
What is the purpose of assessing the internal and external environments in strategic planning?
To identify critical strategic issues
Which part of a strategic plan involves developing detailed action plans for each strategic issue?
Operational Plans
What is a key characteristic of Objectives as compared to Goals?
Very short statement, few words
According to Max E. Douglas's model for writing effective objectives, what should follow the action verb?
The word 'to'
In an Action Plan, what must be included along with Action Steps?
KPI & targets
What is an essential component of a Communications Plan?
Who is involved?
Which statement correctly describes the time scope of Objectives?
Covers short time period (such as 1 year budget cycle)
What is a defining feature of writing effective objectives according to Max E. Douglas's model?
(To, action verb, specific result, target date)
What is the main focus of the faculty of pharmacy according to the text?
Providing patient-centered education
In the context of the text, what does 'Equité' refer to as a core value of the faculty?
Fairness
What is a key objective of the faculty's education strategy?
Delivering diverse and patient-centered education
What role does the faculty of pharmacy aim to play with respect to healthcare reform in the country as per the text?
Serving as a key partner for healthcare professionals
Which value does the faculty emphasize by stating 'Suprématie de la dimension humaine au détriment du profit matériel'?
Humanitarian concerns over financial gains
What would be a possible outcome if the faculty fails to ensure an 'Education efficace, efficiente et innovante'?
Inability to meet healthcare needs of society
Test your knowledge on creating a strategic plan for an organization, including vision statement, mission, core values, competitive advantage, goals, initiatives, and more.
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