What are some pitfalls in strategic planning?
What will be an ideal response?
1. Using strategic planning to gain control over decisions and resources
2. Doing strategic planning only to satisfy accreditation or regulatory requirements
3. Too hastily moving from mission development to strategy formulation
4. Not communicating the plan to employees, who continue working in the dark
5. Top managers making many intuitive decisions that conflict with the formal plan
6. No tasing plans as a standard for measuring performance
7. Delegating planning to a "planner" rather than involving all managers
8. Not involving key employees in all phases of planning
9. Not creating a collaborative climate supportive of change
10. Viewing planning as unnecessary or unimportant
11. Viewing planning activities as silos comprised of independent parts
12. Becoming so engrossed in current problems that insufficient or no planning is done
13. Being so formal in planning that flexibility and creativity are stifled
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List and briefly describe the three different sets of options formed by customers in the search for alternatives through internal and external information sources
What will be an ideal response?
Austin Company has established a target rate of return of 15% for all divisions. For the most recent year, Waterloo Division generated sales of $12,000,000 and expenses of $9,000,000 . Total assets at the beginning of the year were $7,000,000 and total assets at the end of the year were $9,000,000. Refer to Austin Company. For the most recent year, what was Waterloo Division's return on
investment? a. 18.75% b. 33.33% c. 37.50% d. 42.86%
Customers for a company are ______.
a. the people and groups that consume a firm’s products or services b. the people and groups that supply a firm’s products or services c. the people and groups that finance a firm’s products or services d. the people and groups that produce a firm’s products or services
Differentiate between placement agencies and employment contractors
What will be an ideal response?