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Types of strategies used in strategic planning for achieving global competitive advantage?
Wiki User
∙ 10y ago
refer to michale portes five forces model
Wiki User
∙ 10y ago
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What are the strategic business objectives that are impacted by information systems?
operational excellence, competitive advantage, survival, improved decision makinh
Explain strategic surveillance and give an example?
Business activities are dynamic. It is the role of top executive to adapt it with environmental changes. As a role of executive, he is responsible for maintaining control over the strategies implemented. Strategic surveillance is a control method in which the events outside and inside the business activities are tactically and carefully analyzed which may affect the organization's competitive ability over its competitors. For example, a CEO always gives some time in going through the business magazines, further he participates in trading conferences, business travels, etc.
What are the importancce of procurement strategy in supply chain?
It will focus on the relationship between purchasing, procurement and supply chain management. Many high profile organizations in the United States have implemented an integrated strategic approach to purchasing and logistics management, which is known as supply chain management. As the 21st century began, supply chain management became a significant strategic tool for organizations striving to improve quality, customer service and competitive advantage. Gene Richter, a former chief procurement officer at IBM, developed a framework that defined four stages of maturity in the procurement function. His work allows procurements officials to understand what it means to be strategic in the purchasing/procurement/supply chain management process.
What is strategic trade policy theory?
Strategic trade policy(STP) is a part of industrial policy. This policy aimed at capturing profits of foreign firms: government spending involved in creating dynamic comparative advantage to capture export market by using R&D, subsidies, tax incentives, low interest loan, merger immunity, trade barriers etc.
Which analysis limit the feasible strategic alternatives?
Compute the Sum Total Attractiveness Score. Add Total Attractiveness Scores in each strategy column of the QSPM. The Sum Total Attractiveness Scores reveal which strategy is most attractive in each set of alternatives. Higher scores indicate more attractive strategies, considering all the relevant external and internal factors that could affect the strategic decisions. The magnitude of the difference between the Sum Total Attractiveness Scores in a given set of strategic alternatives indicates the relative desirability of one strategy over another.
What does competitive advantage have to do with strategic planning?
Competitive Advantage is vital to Strategic planning. Strategic planning identifies strengths and weaknesses and visions and missions for the future. Competitive advantage relys on the benefits of the companies strengths and act upon them to turn them into competitive advantage. Other firms can't duplicate strategy or competivness that they don't have.
What is strategic alternatives?
It's used for gaining competitive advantage.
What are the strategic management process?
The strategic management process is a method by which managers conceive of and implement a strategy that can lead to a sustainable competitive advantage. There are five parts to it.
What are the strategic business objectives that are impacted by information systems?
operational excellence, competitive advantage, survival, improved decision makinh
What Citigroup's strategic management plan?
Only employees of Citigroup know the strategic management plan of the organization. Managers don't publish this information because it would be detrimental to their competitive advantage.
What is the Nature and scope of management accounting?
It has to do with Strategic Management. That is: the way in which the managers plan, coordinate, and lead, etc.; in order to gain and maintain competitive advantage.
Strategic fit in supply chain management?
Strategic Fit meansthat both the Competitive and Supply Chain Strategies have algned goals. It also refers to the consistency between the customer priorities that the Competitive strategy hopes to satisfy and the Supply chain capabilities the Supply chain strategy aims to build. For an example IKEA and Walmart
What is Equity strategic alliance?
Strategic Alliance: Is an alliance(a business strategy) in which two or more firms own different percentages of the company they have formed, by combining some of their capabilities and resources for creating a competitive advantage in the market. For Example: In Pakistan (Karachi), "own % of RBS,Barclays and CitiBank" when combine together their resources & capabilities they form a competitive advantage now named as "FAYSAL BANK".
How recruitment and selection process maintain a sustained competitive advantage?
Recruitment and selection is the process of outfitting an organization with the right people. When the human resource department focuses on attracting and retaining people who have the skills necessary to carry out the strategic objectives of the organization, then the organization will have a competitive advantage over their competition.
What is the adjective of strategies?
The adjective form is strategic.
What is the difference between a tactical and strategic warhead?
strategy:Heart and soul of managing an organisation lie in the task of crafting, implementing and executing organisational strategies. For an organisation it is game plan management- staking out a market position, conducting operations, attracting and satisfying customers, Competing successfully, growing and achieving consecutively meeting organisational objectives and achieving goals as set previously.Tactics:Tactics follows strategy. Tactical objectives finally consolidate the strategic plan of action fulfilling the strategic goal. While tactics is also directed towards achieving a goal, many games of tactics will be required to achieve a strategic goal through the desired objectives.
What are some of advantages and Disadvantages of strategic planning?
Some advantages of strategic planning are: it leads to sustainable competitive advantage, improves resource allocation, reduces resistance to change, identifies strategic goals and strategic intent and facilitates communication between managers. Disadvantages include: complex process, low rate of successful implementation and costly to perform for small and medium business.
