0
How do you conduct an external strategic management audit Specify three external forces that have recently affected your organization in one or another way and what measures have been taken to cope?
Wiki User
∙ 13y ago
strategic mgt audit is a technique of measuing the orgnisation 's performence
Wiki User
∙ 13y ago
Pub Now
GET YOUR BIGGEST TAX REFUND GUARANTEED.
FREE TAX CALCULATORS AND TOOLS.
START MAX REFUND FOR FREE.
START STUDENT FOR FREE.
FILE SIMPLE TAX RETURNS FOR FREE.
met.bz/jbQRXYBTvQ1G
Add your answer:
Earn +20 pts
What are the dimensions of strategic management?
Decision making is a managerial process. It is the function of choosing a particular course of action out of several alternative courses for the purpose of accomplishment of the organisational goals.Decisions may relate to general day to day operations. They may be major or minor. They may be strategic, tactical or operational in nature.Major dimensions of strategic decisionsThe major dimensions of strategic decisions are as follows:1. Strategic issues require top-management decisions:Strategic issues involve thinking in totality of the organization's objectives in which a considerable amount of risk is involved. Hence, problems calling for strategic decisions require to be considered by the top management.2. Strategic issues involve the allocation of large amounts of company resources:It may require either a huge financial investment to venture into a new area of business or the organization may require a huge amount of manpower with new skill sets.3. Strategic issues are likely to have a significant impact on the long term prosperity of the firm:Generally the results of strategic implementation are seen on a long term basis and not on immediate terms.4. Strategic issues are future oriented:Strategic thinking involves predicting the future environmental conditions and how to orient for the changed conditions.5. Strategic issues usually have major multifunctional or multi- business consequences:As they involve organization in totality they affect different sections of the organization with varying degree.6. Strategic issues necessitate consideration of factors in the firm's external environment:Strategic focus in an organization involves orienting its internal environment to the changes of external environment.
How can a decision maker identify strategic factors in the corporations external international environment?
how can a decision maker indentify strategic factors in the corporation external environment
Which form of business organization is most affected by the instability of environment of a country why?
Every business has both the external as well as internal variables on which the stability and profitability of the organization is directly linked to. So whether the organization has a horizontal or vertical structure, they are bound to get affected with environmental fluctuations. The business co-exist in the variables of these factors and it has to follow the principle of "Survival Of Fittest".
What is external cost?
Any cost that is impose to other with out any agreement is called external cost. Example Any industry or any organization who generate air pollution. so air pollution is a external cost. So these type of firm imposing external cost to the people and they have no any agreement between industry and affected people. From Muhammad Waqas Azeem Toba Tek Singh, Pakistan
What is the difference between internal and external environments?
internal environment includes things, situations and events that occur in the organization which effect the business in a positive or negative way. external environment includes things, situations and events that occur outside the organization, basically not in control by the organization,but effect the organization in a positive or negative way.
How strategic management is different from other type of management?
Strategic management enables managers to evaluate the organization's internal and external situation and decide future actions to take.
What is an example of an organization's strategic response to its external environment?
An organization's external environment is often out of the organization's control. One example of a strategic response to an organization's external environment is adapting its practices according to new laws that are out of their control.
Definition of strategic management of different authors?
Strategic management refers to the analysis of the factors associated with the external (customers and competitors) and internal (organization) environments. It can also be defined as the analysis of activities and processes that organizations use to coordinate and align resources with their mission, vision, and strategy.
What are some examples of strategic management?
Our market and industry expertise is built around a broad and loyal customer base. We know the Norwegian market and can provide support throughout the whole process and be your strategic and operational. Strategic management is the planned use of a business' resources to reach company goals and objectives. Strategic management requires ongoing evaluation of the processes and procedures within an organization and external factors that may impact how the company functions. The process of strategic management should guide top-level programs and decisions.
How do the external environment of an organization influence its strategic choices?
The external environment, such as location and weather, influence the strategies that an organization will choose to make by affecting what they can feasibly do and what viewer audience base they can reach.
What role do projects play in the strategic management process?
Projects play numerous roles in the strategic management process. Projects can focus on internal activities within a business as well as external customers.
What are the dimensions of strategic management?
Decision making is a managerial process. It is the function of choosing a particular course of action out of several alternative courses for the purpose of accomplishment of the organisational goals.Decisions may relate to general day to day operations. They may be major or minor. They may be strategic, tactical or operational in nature.Major dimensions of strategic decisionsThe major dimensions of strategic decisions are as follows:1. Strategic issues require top-management decisions:Strategic issues involve thinking in totality of the organization's objectives in which a considerable amount of risk is involved. Hence, problems calling for strategic decisions require to be considered by the top management.2. Strategic issues involve the allocation of large amounts of company resources:It may require either a huge financial investment to venture into a new area of business or the organization may require a huge amount of manpower with new skill sets.3. Strategic issues are likely to have a significant impact on the long term prosperity of the firm:Generally the results of strategic implementation are seen on a long term basis and not on immediate terms.4. Strategic issues are future oriented:Strategic thinking involves predicting the future environmental conditions and how to orient for the changed conditions.5. Strategic issues usually have major multifunctional or multi- business consequences:As they involve organization in totality they affect different sections of the organization with varying degree.6. Strategic issues necessitate consideration of factors in the firm's external environment:Strategic focus in an organization involves orienting its internal environment to the changes of external environment.
Strategy management is not a box of tricks or a bundle of techniques It is analytical thinking nad commitment of resources to action by Peter Drucker?
this question simply wants a a person attempting it to give a detail description of what is meant by strategic management! show the associated key terms i.e vision,mission, objectives and strategy. in addition, strategic management can be defined as the analysis of factors associated with customers and competitors( the external environment) and the organization itself( the internal environment) to provide the basis for maintaining optimum management to achieve better alignment of corporate policies and strategic priorities
What are the external factors affecting HRM?
1. strategic environment 2. government legislation 3. Labour unions 4. Management thought
What is the Strategic Context of Project means?
The strategic context of a project refers to the broader goals, objectives, and priorities of an organization within which the project is being undertaken. It involves understanding how the project aligns with the overall strategic direction and vision of the organization, as well as the external factors such as market conditions, competition, and regulatory environment that may impact the project's success. Understanding the strategic context helps in ensuring that the project delivers value and contributes to the organization's long-term success.
What is the relationship between strategic management and project management?
Portfolio management is the centralized management of one or more portfolios, and it includes identifying, prioritizing, authorizing, managing, and controlling projects, programs, and other related work in order to obtain specific strategic business objectives of the organization. Just as a program is managed by a program manager, a portfolio is managed by a portfolio manager. To understand the relationship between these 3 entities, projects, programs and portfolios we need to understand that: • If an organization does not have any programs but has only individual projects, all these projects can be grouped into one or more portfolios. • If an organization has programs and no individual project external to all programs, all these programs can be grouped into one or more portfolios. • If an organization has some programs and some individual projects, all these programs and projects can be grouped into one or more portfolios. Portfolio management focuses on making sure that programs and projects are prioritized for resources to serve the organization's strategy. In simpler terms, a portfolio manager worries about the success of the whole strategy put forth by the organization rather than the success of a single project (like what we do) Therefore, investment decisions are usually made at the portfolio level. Program management focuses on achieving the benefits that would be aligned with the portfolio and hence with the strategic objectives of the organization. So, a portfolio is part of the interface between the programs and strategic business objectives of the organization for which the programs are run
What are the ethical issues relating to production in a business?
How has globalization effected internal and external factors affected the four functions of management
