Strategic Planning (Leaving Cert Business): Flashcards
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10 cards from this deck
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Practise the cards
10 cards from this deck
Strategic plan definition
Strategic plan definition
Long-term plan (~5 yrs) for business by senior management
Who develops strategic plans
Who develops strategic plans
Senior management team
Strategic plan time frame
Strategic plan time frame
Approximately five years
5 key strategic objective areas
5 key strategic objective areas
Market share, Profit, Capital exp., Expansion, Diversification
Strategic planning: one-time or ongoing?
Strategic planning: one-time or ongoing?
Continuous process with regular review, not one-time
4 benefits of strategic planning (ECDC)
4 benefits of strategic planning (ECDC)
Empowerment, Clear direction, Decision-making, Communication
Empowerment benefit
Empowerment benefit
Employees feel responsible, reduces fear of change
Clear direction benefit
Clear direction benefit
Defines vision/mission with measurable goals & purpose
SWOT acronym meaning
SWOT acronym meaning
Strengths, Weaknesses, Opportunities, Threats
Netflix original model (1997)
Netflix original model (1997)
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