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- Organizations today strive to be more strategic in nature than they have been in the past. How can a performance management system encourage long-term and strategic thinking rather than short-term or tactical thinking? Provide a personal ex1. Explain the suitability of scenario planning in a highly volatile and turbulent business environment. 2. Explain THREE corporate-level strategies of a organization to decide the future direction of the businessBelow is the levels of organizational strategies and the decision-makers 1. Corporate Level: Chief Executive Order 2. Division Level Division President/Executive Vice President 3. Functional Level Finance, Marketing, R&D, Manufacturing, Information Systems and Human Resource Managers 4. Operational Level Plant managers, sales managers, production and department managers Scenario You and a group of enthusiastic colleagues have recently graduated from university, and are eagerly discussing a possible joint entrepreneurial venture, focusing on the production of environmentally friendly electric vehicles. To fund this new venture, the team has been advised to come up with a solid implementation plan, supported by the strategy implementation framework to include detailed information on the business concept, strategic vision, mission, revenue model, financial objectives, and projections and much more. The rising use of hybrid and environmentally friendly electric vehicles (EVs)…
- What are the potential risks associated with inadequate or ineffective planning, and how can organizations mitigate those risks?Below is the levels of organizational strategies and the decision-makers 1. Corporate Level: Chief Executive Order 2. Division Level Division President/Executive Vice President 3. Functional Level Finance, Marketing, R&D, Manufacturing, Information Systems and Human Resource Managers 4. Operational Level Plant managers, sales managers, production and department managers Scenario You and a group of enthusiastic colleagues have recently graduated from university, and are eagerly discussing a possible joint entrepreneurial venture, focusing on the production of environmentally friendly electric vehicles. To fund this new venture, the team has been advised to come up with a solid implementation plan, supported by the strategy implementation framework to include detailed information on the business concept, strategic vision, mission, revenue model, financial objectives, and projections and much more. The rising use of hybrid and environmentally friendly electric vehicles (EVs)…1. Why is business plan important when planning a business? 2. Why is knowledge about the structures of markets in which the firms operate important? How could this be of help to you in order to understand the differences in prices and services? 3. What is the importance of a business plan?
- Answer this... How can contingency planning help organizations prepare for unexpected events and crises?Managemen:- How can organizations ensure that their plans are aligned with their core values and strategic direction?“Planning is no guarantee of success of a business enterprise”. Discuss any two limitations of planning that the manager should keep in mind.
- Do you believe strategic and operation planning should overlap just like leadership and management?A business plan is like the backbone for any business. ExplainHow is a systems-level planning approach different from an enterprise architecture approach for an organization? Discuss in detail at least 2 ways and provide examples to bolster your arguments.