C4

Long term objectives Types of Strategy Integration Strategy

C4

45問 • 1年前Long term objectives Types of Strategy Integration Strategy

問題一覧

represent the results expected from pursuing certain strategies. Strategies represent the actions to be taken to accomplish long-term objectives. The time frame for objec- tives and strategies should be consistent, usually from 2 to 5 years.

Long term objectives

Objectives should be quantitative, measurable, realistic, understandable, challenging, hierarchi- cal, obtainable, and congruent among organizational units. Each objective should also be associ- ated with a timeline. Objectives are commonly stated in terms such as growth in assets, growth in sales, profitability, market share, degree and nature of diversification, degree and nature of vertical integration, earnings per share, and social responsibility. Clearly established objectives offer many benefits. They provide direction, allow synergy, assist in evaluation, establish priori- ties, reduce uncertainty, minimize conflicts, stimulate exertion, and aid in both the allocation of resources and the design of jobs. Objectives provide a basis for consistent decision making by managers whose values and attitudes differ. Objectives serve as standards by which individuals, groups, departments, divisions, and entire organizations can be evaluated.

Characteristics and Benefits of Objectives

Long term objectives

Characteristics and Benefits of Objectives

include those associated with growth in revenues, growth in earnings, higher dividends, larger profit margins, greater return on investment, higher earnings per share, a rising stock price, improved cash flow, and so on

Financial Objectives

include things such as a larger market share, quicker on-time delivery than rivals, shorter design-to-market times than rivals, lower costs than rivals, higher product quality than rivals, wider geographic coverage than rivals, achieving technological leadership, consistently getting new or improved products to market ahead of rivals, and so on.

Strategic Objectives

Based on the fact that the future is laden with great uncertainty and that if we try and do not succeed, then we hope our second (or third) attempt will suc- ceed. Decisions are predicated on the hope that they will work and that good times are just around the corner, especially if luck and good fortune are on our side!2

Managing by Hope

Built on the idea that there is no general plan for which way to go and what to do; just do the best you can to accomplish what you think should be done. In short, “Do your own thing, the best way you know how” (sometimes referred to as the mystery approach to decision making because subordinates are left to figure out what is happening and why).

Managing by Subjectives

Based on the belief that the true measure of a really good strate- gist is the ability to solve problems. Because there are plenty of crises and problems to go around for every person and organization, strategists ought to bring their time and creative energy to bear on solving the most pressing problems of the day. Managing by crisis is actually a form of reacting, letting events dictate the what and when of management decisions.

Managing by Crisis

Mr. Derek Bok, former President of Harvard University, once said, “If you think education is expensive, try ignorance.”

Avoid Not Managing by Objectives

Most organizations simultaneously pursue a combination of two or more strategies, but a ______ can be exceptionally risky if carried too far.

combination strategy

Characteristics and Benefits of Objectives

Financial Objectives

Strategic Objectives

Managing by Hope

Managing by Subjectives

Managing by Crisis

Mr. Derek Bok, former President of Harvard University, once said, “If you think education is expensive, try ignorance.”

Avoid Not Managing by Objectives

Most organizations simultaneously pursue a combination of two or more strategies, but a ______ can be exceptionally risky if carried too far.

combination strategy

Mr. Derek Bok, former President of Harvard University, once said, “If you think education is expensive, try ignorance.”

Avoid Not Managing by Objectives

Characteristics and Benefits of Objectives

Managing by Hope

Managing by Subjectives

Mr. Derek Bok, former President of Harvard University, once said, “If you think education is expensive, try ignorance.”

Avoid Not Managing by Objectives

Gaining ownership or increased control over distributors or retailers

Forward Integration

Seeking ownership or increased control of a firm’s suppliers

Background Integration

Seeking ownership or increased control over competitors

Horizontal Integration

Seeking increased market share for present products or services in present markets through greater marketing efforts

Market Penetration

Introducing present products or services into new geographic area

Market Development

Seeking increased sales by improving present products or services or developing new ones

Product Development

Adding new but related products or services

Related Diversification

Adding new, unrelated products or services

Unrelated Diversification

Regrouping through cost and asset reduction to reverse declining sales and profit

Retrenchment

Selling a division or part of an organization

Divestiture

Selling all of a company’s assets, in parts, for their tangible worth

Liquidation

Gaining ownership or increased control over distributors or retailers

Forward Integration

Gaining ownership or increased control over distributors or retailers

Forward Integration

Managing by Subjectives

DM Module 6 Part 1 - Management of Visitors

Saint Thomas Aquinas! · 39問 · 1年前

DM Module 6 Part 1 - Management of Visitors