BU481 Study Guide - Quiz Guide: Balanced Scorecard, Pest Analysis, Vertical Integration
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Strategic management: a(cid:374) o(cid:374)goi(cid:374)g pro(cid:272)ess that e(cid:448)aluates a(cid:374)d e(cid:448)ol(cid:448)es a fir(cid:373)"s dire(cid:272)tio(cid:374) (cid:271)y: Role of the general manager: create value for the company play a key role in setting the lt dire(cid:272)tio(cid:374) a(cid:374)d are a(cid:272)(cid:272)ou(cid:374)ta(cid:271)le for (cid:272)o(cid:373)pa(cid:374)y"s perfor(cid:373)a(cid:374)(cid:272)e. Operating performance: quantitative measures of financial and market performance. Organizational health: qualitative and quantitative measures of operating health. Dynamic tool: asks (cid:449)here your (cid:271)usi(cid:374)ess (cid:449)as 3 years ago, today, a(cid:374)d dire(cid:272)tio(cid:374) it"s goi(cid:374)g in. Create goals for each area; data related needs to be timely; different focus for different i(cid:374)dustries; (cid:373)a(cid:374)agers" (cid:272)o(cid:373)pe(cid:374)satio(cid:374)s should (cid:271)e dire(cid:272)tly li(cid:374)ked to a(cid:272)hie(cid:448)e(cid:373)e(cid:374)t of measures; have ongoing support and involvement of senior mgmt. Financial ratios: pro(cid:448)ide i(cid:374)di(cid:272)atio(cid:374) of ho(cid:449) (cid:449)ell (cid:272)o(cid:373)pa(cid:374)y"s (cid:272)urre(cid:374)t strategy is (cid:449)orki(cid:374)g year over year or against competitors. Profitability ratios: gross profit (cid:373)argi(cid:374), net profit (cid:373)argi(cid:374), retur(cid:374) o(cid:374) assets, retur(cid:374) o(cid:374) sto(cid:272)kholders" equity, return on invested capital, return on sales, earnings per share (growth)
