STRATEGIC MANAGEMENT FLASHCARD

Front

What is the main purpose of an organization’s vision statement?

Back

Long-term aspiration

Front

A mission statement typically explains:

Back

Core purpose and activities

Front

What is the main purpose of an organization’s vision statement?

Back

Long-term aspiration

Front

A mission statement typically explains: Products sold, Core purpose and activities, Number of employees, Office locations

Back

Core purpose and activities

Front

Which tool measures company performance across financial, customer, internal processes, and learning perspectives?

Back

Balanced Scorecard

Front

What does benchmarking involve?

Back

Comparing performance

Front

In PESTEL analysis, what does the 'T' stand for?

Back

Technology

Front

Which of the following is NOT part of PESTEL analysis? Political, Environmental, Social, Finance

Back

Finance

Front

In Porter’s Five Forces, which force examines how easy it is for a new company to start competing?

Back

Threat of New Entrants

Front

If customers have many choices and can easily switch, their bargaining power is:

Back

High