Issues suggest the need for an oversight of management of a company includes: Bad accounting practices uncovered by the internal or external auditors suggest that the managers are not handling the finance of the company honestly. Oversight and Poor sales …
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Roles and responsibilities of active board of directors: Representing the stakeholders to review reports from management on company’s performance periodically. Giving advice to management with the goal to maximize stakeholders’ wealth. Voting on major decisions of the company including hiring …
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Formulation and Implementation Issues Formulation issues include: Lack of understanding of requirements. This issue can be fixed by improvement in communication and documentation. Goals are not specific or attainable. It is important to set SMART goals which mean that the …
Globalization, innovation and sustainability Globalization, innovation and sustainability are new concepts in understanding strategy. I used to think that strategy means planning or setting tasks to achieve a goal. With the integration of globalization, innovation and sustainability, strategy means long …
Strategic Management and Business Practices Strategic management plays the most important role in the practices of a business. However in an attempt to increase the firm success, strategies have to select among two or more than two alternative options for …
Best methods for evaluating the performance of the top management team In order to evaluate the performance of teamwork for top management, one can look at the leadership and the way the team present the company or project. Usually in …
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ROI might not be the best measure of firm performance Return on investment is calculated as: (the gains from investment – cost of investment) / cost of investment. It is a popular metric used to measure the firm performance, because …
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What issues would you consider to be the most important for a company that is considering the use of a functional structure? Functional structure has issues especially with the definition of functions. In the formulation phase, if the functions and …
How do timing tactics impact the strategy implementation efforts of a company? Timing is everything in business because the product life cycle runs the operation strategy as well as other strategies. Since everything evolves around the product life cycle like …
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How are corporate scenarios used in the development of an effective strategy? Scenarios give the test runs for development of effective strategy. After planning the strategy is implemented and corrected by trial and error. Using corporate scenarios, company can test …
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