- Describe and differentiate the three types of organizational plans? What are the time frames for the different levels of plans? How are the plans related?
Strategic tactical and operational plans are the three types of organizational plans. Leadership do the strategic planning to set goals. These plans are present at the start of projects. Operational plans are related to how things will be done and how different operations would lead to the achievement of the goals. The tactical plan are related to what is going to happen. It is focused on short term goals that lead to the achievement of the long term actual goal. All these plans are related in a sense that they are leading to same goal of productivity and efficiency.
- What is a SWOT analysis? What are its components? Why is it useful to an organization? Give an example of how an organization such as Starbucks might use a SWOT analysis.
SWOT analysis means an analysis of the strengths, weaknesses, opportunities and threats. It is useful in an organization to learn about its current standing according to its SWOT. Starbucks can look at its strengths like which of its services are superior to its competitors, its weaknesses like any deficiency in its quality, its opportunities in the market and the threats posed by competitors and plan its future operations accordingly keeping all these factors in mind.
- What is the purpose of portfolio management in a diverse organization? Describe the BCG Matrix’s four cells. How does the GE Business Screen differ?
Portfolio management informs diverse organizations about an accurate need to match its investments to its objectives. Then assets are allocated accordingly.
BCG Matrix is a portfolio management model. It has four cells which are used to categorize a company units. . 1. Dog which has low market share, 2. Question Mark grow rapidly, 3. Star generate large cash and 4. Cash Cow for which market value is high.
GE is a broader strategy compared to BCG specific nature.
- What are the five fundamental orientations that can be used to characterize people in different cultures? Identify and describe the dimensions that differentiate individual orientations across cultures?
The five different orientations are:
Power Distance: the extent to which power is distributed. For example if the power distance is low, it means power is more distributed. These are more liberal and democratic cultures.
Uncertainty Avoidance: It measure how much feel are confident about their current circumstances and about their future. In cultures where it is high, people are uncomfortable.
Masculinity vs Femininity: How much equality exists between male and females in a culture?
Individualism vs collectivism: do people make their own decision or the decisions are made collectively. Even decisions related to an individual may be collectively made in these kinds of cultures.
Long vs Short Term orientation: Do people plan long term goals or short term?
- Describe and compare Porter’s Generic Strategies and Miles and Snow’s Typology for formulating business-level strategies.
According to Porter’s Generic Strategies is a way of competing that leads to three generic strategies in a business. These strategies are cost leadership, differentiation and focus.
Miles and Snow’s Typology believed that in an organization there are four categories of business level strategies which are prospector, defender, analyzer and reactor.