Organisation And People (LW1) What Is A Strategy? at Fontys University Of Applied Sciences | Flashcards & Summaries

Lernmaterialien für Organisation and People (LW1) What is a strategy? an der Fontys University of Applied Sciences

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TESTE DEIN WISSEN
What is a definition of strategy?
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TESTE DEIN WISSEN
The long-term direction of an organization 
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TESTE DEIN WISSEN
What is the Golden circle?
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TESTE DEIN WISSEN
WHAT
Every organization on the planet knows what they do. These are products they sell or the services they provide

HOW 
Some organizations know how they do it. These things make them special or set them apart from their competition.

WHY
Very few organizations know why they do what they do. Why is not about making money. Thats a result. Why is a purpose, cause or belief. It's the very reason your organization exists.






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TESTE DEIN WISSEN
What are the 4 ways to define an organization's purpose?
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TESTE DEIN WISSEN
- Mission statement 
- Vision statement
- Statement of corporate values
- Statement of objectives 
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TESTE DEIN WISSEN
What is a mission?
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TESTE DEIN WISSEN
A mission statement aims to provide employess and stakeholders with clarity about what the organization is fundamentally there to do.

- What business are we in?
- What would be lost if the organization did not exist?
- How do we make a difference?
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TESTE DEIN WISSEN
What is a vision?
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TESTE DEIN WISSEN
A vision statement is concerned with the future of the organisation seeks to create

- What do we want to achieve?
- If we were here in twenty years what do we want to have created or achieved?
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TESTE DEIN WISSEN
What are corporate values?
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TESTE DEIN WISSEN
Statements of corporate values communicate the underlying and enduring core principles that guide the organization strategy and define the way that te organisation should operate

NB: these values do NOT change with circumstances 
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TESTE DEIN WISSEN
What is an objective?
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TESTE DEIN WISSEN
Objectives are statements of specific outcomes that are to be achieved 

- Often stated in financial terms (e.g. profit)
- May also be market-based objectives (e.g. Market share)
- May emphasize basis of competitive advantage.
- Triple bottom line - economic, social and environmental objectives
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TESTE DEIN WISSEN
What three things should a strategy statement include?
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TESTE DEIN WISSEN
- Fundemental goals that te organization seeks (reflect the stated mission, vision, etc.)

-The scope or domain if the organisation's activities 

- The particular advantages or capability to deliver all of these

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TESTE DEIN WISSEN
What are the 3 levels of strategy?
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TESTE DEIN WISSEN
- Corporate level strategy

- Business level

- Functional level
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TESTE DEIN WISSEN
What are elements of the strategic position?
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TESTE DEIN WISSEN
- Macro environment 
- Industry 
- Resources
- Cluture
- Stakeholders

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TESTE DEIN WISSEN
What are elements of strategic choices?
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TESTE DEIN WISSEN
- Business strategy
- International
- Aquisitions & alliances
- Entrepreneurship 
- Corporate strategy 
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TESTE DEIN WISSEN
What are elements of strategy in action?
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TESTE DEIN WISSEN
- Evaluating
- Organizing 
- Practice
- Leadership & change
- Process

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  • 2870 Karteikarten
  • 233 Studierende
  • 1 Lernmaterialien

Beispielhafte Karteikarten für deinen Organisation and People (LW1) What is a strategy? Kurs an der Fontys University of Applied Sciences - von Kommilitonen auf StudySmarter erstellt!

Q:
What is a definition of strategy?
A:
The long-term direction of an organization 
Q:
What is the Golden circle?
A:
WHAT
Every organization on the planet knows what they do. These are products they sell or the services they provide

HOW 
Some organizations know how they do it. These things make them special or set them apart from their competition.

WHY
Very few organizations know why they do what they do. Why is not about making money. Thats a result. Why is a purpose, cause or belief. It's the very reason your organization exists.






Q:
What are the 4 ways to define an organization's purpose?
A:
- Mission statement 
- Vision statement
- Statement of corporate values
- Statement of objectives 
Q:
What is a mission?
A:
A mission statement aims to provide employess and stakeholders with clarity about what the organization is fundamentally there to do.

- What business are we in?
- What would be lost if the organization did not exist?
- How do we make a difference?
Q:
What is a vision?
A:
A vision statement is concerned with the future of the organisation seeks to create

- What do we want to achieve?
- If we were here in twenty years what do we want to have created or achieved?
Mehr Karteikarten anzeigen
Q:
What are corporate values?
A:
Statements of corporate values communicate the underlying and enduring core principles that guide the organization strategy and define the way that te organisation should operate

NB: these values do NOT change with circumstances 
Q:
What is an objective?
A:
Objectives are statements of specific outcomes that are to be achieved 

- Often stated in financial terms (e.g. profit)
- May also be market-based objectives (e.g. Market share)
- May emphasize basis of competitive advantage.
- Triple bottom line - economic, social and environmental objectives
Q:
What three things should a strategy statement include?
A:
- Fundemental goals that te organization seeks (reflect the stated mission, vision, etc.)

-The scope or domain if the organisation's activities 

- The particular advantages or capability to deliver all of these

Q:
What are the 3 levels of strategy?
A:
- Corporate level strategy

- Business level

- Functional level
Q:
What are elements of the strategic position?
A:
- Macro environment 
- Industry 
- Resources
- Cluture
- Stakeholders

Q:
What are elements of strategic choices?
A:
- Business strategy
- International
- Aquisitions & alliances
- Entrepreneurship 
- Corporate strategy 
Q:
What are elements of strategy in action?
A:
- Evaluating
- Organizing 
- Practice
- Leadership & change
- Process

Organisation and People (LW1) What is a strategy?

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