MGCR 423- Final Exam Guide - Comprehensive Notes for the exam ( 124 pages long!)
29 Mar 2018
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What are different types of strategy: growth strategies (ways around growth) Cost cutting (ideally growing profits: diversification, sustainability (corporate social responsibility, functional strategies (ex. Pr strategy, communications strategy, marketing, hr, finance, operations, accounting, it, sales, r&d, etc. : organization/corporate strategies, geographic, product lines, business unit. Challenges: culture, language, silo (when no one wants to talk to each other), communication, legal, bureaucracy, timing to reporting your financials, competition for resources (money), What are different strategic planning processes: structured (ex. Swot, formalized process, long-term: unstructured (go with the flow, flexible, short-term, top-down (boss says, more order, bottom-up (everyone votes for everything, different perspectives, examples: Top-down/unstructured: amazon when it first started (tech start-ups) Top-down/structured: walmart, financial institutions, most large multinational companies. Why do plans fail: unpredictable events, external factors. If step is too rigid: context of plan has changed (circumstances change, after you conduct an analysis, change your mind, new ceo, promotions.
