Strategic Planning Overview
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Questions and Answers

What is a primary benefit of enterprise resource planning (ERP) in supply chain activities?

  • Enhances accuracy and efficiency in operational activities. (correct)
  • Replaces the need for technology in logistics.
  • Eliminates the need for inventory management.
  • Increases the number of employees in production.

    • How does digital medicine utilize technology in surgical procedures?

  • By using human hands for more precision.
  • By reducing the roles of scientists in research.
  • By employing computer-guided robots for operations. (correct)
  • By ensuring all surgical procedures are manual.

    • Which of the following is NOT a function of e-banking?

  • Making deposits
  • Tracking international transactions
  • Conducting online payments
  • Withdrawing cash at physical branches (correct)

    • What is one reason e-learning has gained popularity?

    <p>It is a convenient way for busy individuals to pursue education.</p> Signup and view all the answers

    Which statement about product innovation is accurate?

    <p>Product innovation is simpler to execute than before.</p> Signup and view all the answers

    What phase of the supply chain management involves sourcing and ordering materials?

    <p>Supply management</p> Signup and view all the answers

    What role do androids play in surgical operations?

    <p>They assist in surgeries, making them less time-consuming.</p> Signup and view all the answers

    Which of the following is NOT a component of supply chain management?

    <p>Stock market analysis</p> Signup and view all the answers

    Which area does enterprise resource planning NOT typically enhance?

    <p>Product design creativity</p> Signup and view all the answers

    How is supply management related to purchasing?

    <p>They are synonymous terms.</p> Signup and view all the answers

    What is a significant concern related to e-security?

    <p>Confidentiality during international transactions.</p> Signup and view all the answers

    Which activity is part of logistics in supply chain management?

    <p>Warehousing</p> Signup and view all the answers

    What is one of the responsibilities of supply management?

    <p>Identifying material and service needs</p> Signup and view all the answers

    Which of the following best describes the role of marketing and sales in the supply chain?

    <p>It involves promoting and selling to customers.</p> Signup and view all the answers

    What does tracking supplier performance involve in supply management?

    <p>Monitoring inventory stock keeping units</p> Signup and view all the answers

    Which activity is part of production and operations in supply chain management?

    <p>Manufacturing and assembly</p> Signup and view all the answers

    What role does information technology play in military applications?

    <p>It assists in manufacturing missiles and coding military secrets.</p> Signup and view all the answers

    Which environmental issue is emphasized as a critical concern globally?

    <p>Indifference towards environmental degradation.</p> Signup and view all the answers

    What is the primary focus of a medium/long-range plan?

    <p>It outlines major factors affecting long-term objectives.</p> Signup and view all the answers

    What is one major consequence of using non-biodegradable materials?

    <p>Increased severity of climate change.</p> Signup and view all the answers

    Which of the following describes an annual/yearly plan?

    <p>It provides a brief overview of present conditions, goals, and budgets.</p> Signup and view all the answers

    How does mismanaged disposal of toxic wastes affect public health?

    <p>It significantly increases health hazards and illnesses.</p> Signup and view all the answers

    What is the first step involved in strategic planning?

    <p>Conducting an environmental scan.</p> Signup and view all the answers

    In the context of strategic planning, which action follows stating the respective goals and objectives?

    <p>Describing appropriate strategies.</p> Signup and view all the answers

    What environmental problem arises from the use of dynamites?

    <p>It destroys marine habitats and balances.</p> Signup and view all the answers

    What is a key characteristic of strategic planning steps?

    <p>They are cyclical and require continuous monitoring.</p> Signup and view all the answers

    Which of the following is a consequence of climate change mentioned in the content?

    <p>Increased occurrences of extreme weather events.</p> Signup and view all the answers

    Why is it important for an organization to monitor the implementation of strategies?

    <p>To assess progress towards achieving goals.</p> Signup and view all the answers

    What is indicated as a significant effect of high pollution levels in underdeveloped countries?

    <p>Increased incidents of lung-related diseases.</p> Signup and view all the answers

    What environmental change is exacerbated by deforestation?

    <p>More intense and destructive torrential rains.</p> Signup and view all the answers

    What role does environmental scanning play in strategic planning?

    <p>It assesses the current state of the organization.</p> Signup and view all the answers

    What is defined as the expertise, insight, and wisdom possessed by an entity that guides its competitive journey?

    <p>Organizational intelligence</p> Signup and view all the answers

    How does an organization choose the best strategy from multiple options?

    <p>By determining which will achieve desired outcomes effectively.</p> Signup and view all the answers

    Which of the following accurately describes environmental scanning?

    <p>It requires monitoring both external and internal forces.</p> Signup and view all the answers

    Which factors influence the effectiveness of environmental scanning?

    <p>The speed of scanning and availability of complete information.</p> Signup and view all the answers

    What types of information are considered primary data?

    <p>Information gathered from personal experience and observation.</p> Signup and view all the answers

    What characterizes the competitive environment while conducting environmental scanning?

    <p>It covers stakeholders, culture, competitors, and government.</p> Signup and view all the answers

    What are the two main processes involved in environmental scanning?

    <p>Looking at information and looking for information.</p> Signup and view all the answers

    Why can conducting environmental scanning be considered demanding?

    <p>It requires high levels of expertise and accurate information.</p> Signup and view all the answers

    Which of the following statements correctly differentiates between primary and secondary information?

    <p>Primary information is collected firsthand, while secondary information is gathered from existing resources.</p> Signup and view all the answers

    Study Notes

    Strategic Planning

    • Two main types:
      • Medium/Long-range plan: covers 3-5, 10 or more years. Focuses on major external factors impacting the organization's long-term objectives, strategies, and resource needs.
      • Annual/Yearly plan: Short-term, covering the upcoming year. Outlines the organization's current situation, goals, objectives, strategies, monitoring methods, and budget.
    • Strategic planning steps: iterative, cyclical, and integrative.
      • Situation Audit: Assessing the organization's current position.
      • Goal and Objective Setting: Defining the organization's desired future state, including values, mission, and strategy.
      • Strategy Development: Identifying strategies to achieve the desired objectives.
      • Strategy Selection: Choosing the most effective strategy for achieving goals.
      • Strategy Implementation Monitoring: Measuring performance against strategy execution.
      • Continuous Reassessment: Implementing improvements and changes based on performance feedback.

    Environmental Scanning

    • The process of assessing both external and internal forces impacting an organization.
    • External environment encompasses social, economic, political, technological, and environmental factors that can influence an organization.
    • Competitive environment includes competitors, suppliers, customers, stakeholders, culture, and government.
    • Environmental scanning involves monitoring the surroundings to identify early indicators of opportunities and challenges.
    • Two approaches:
      • Informal scanning: Leverages experience and expertise for effortless assessment.
      • Formal scanning: Requires in-depth, precise data collection and analysis, demanding speed, information availability, and financial resources.

    Strategic Information

    • Consists of facts and data used to help achieve organizational vision, mission, and goals.
    • Sourced from both internal and external environments.
    • Classified as primary (gathered through personal experience, observation, or experimentation) or secondary (collected from reports, internet sources, and published materials).

    Modes of Environmental Scanning

    • Two processes:
      • Information viewing: Simply observing data.
      • Information searching: Actively seeking specific data.
    • Technological advancements have made data collection and analysis more efficient and accessible. Examples include:
      • Product innovation: Easier to create.
      • Product development: Faster and less complex.
      • Enterprise resource planning (ERP): Widely used in supply chain activities (purchasing, inventory management, scheduling, logistics, and financial management).
      • E-banking: Facilitates online banking transactions.
      • E-learning: Enables online education and distance learning.
      • Digital medicine: Utilizes technology in medical research and treatments (e.g., stem cell research, robotic surgery).
      • E-security: Utilizes technology for security applications (e.g., military intelligence, surveillance, and counterterrorism).

    Environmental Forces

    • Emphasize the need for environmental responsibility and sustainable practices.
    • Key issues:
      • Climate Change: Global warming resulting from the use of non-biodegradable materials, leading to extreme weather events.
      • Environmental Waste Management: Concerns about air, water, and noise pollution, as well as waste disposal, contributing to health issues.
      • Preservation of Rainforests and Marine Life: Protecting these ecosystems from depletion and degradation.

    Supply Chain Management

    • Addresses the entire business process from raw material sourcing to product delivery to end users or consumers.
    • Focuses on value creation throughout the chain.
    • Key activities:
      • Supply management: Sourcing, ordering, and managing inventory of raw materials, parts, and services.
      • Production and operations: Manufacturing and assembly.
      • Logistics: Warehousing, inventory tracking, order management, distribution, and delivery.
      • Marketing and sales: Promoting and selling products and services.

    Supply Management

    • Modern term used for purchasing or procurement.
    • Key responsibilities:
      • Identifying material and service needs.
      • Locating and selecting suppliers.
      • Negotiation and contract management.
      • Acquiring necessary materials, services, and equipment.
      • Monitoring inventory levels.
      • Tracking supplier performance.

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    Description

    This quiz explores the essentials of strategic planning, focusing on both medium/long-range and annual plans. It covers the strategic planning process, including situation audits, goal-setting, strategy development, and performance monitoring. Test your understanding of these critical concepts in organizational strategy.

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