UPDATED REVIEW SET WITH VERIFIED
Q&A AND IN-DEPTH RATIONALES
⩥ Value to the organization (1:8). Answer: develop your objectives
based on the organization's vision and mission, stake holder risk appetite
and opportunities
⩥ Driving engagement (1:8). Answer: execute on the plan by navigating
the internal values and culture, developing a business case to get support
and funding, and promoting your activities
⩥ Organizational Transformation (1:8). Answer: as a leader you must
strive to lead, motivate, and inspire your team members and colleagues
to accomplish their goals of the overall strategic planning process
⩥ Security planning - Need (1:11). Answer: requires an understanding of
not only security threats and capabilities but also a deep understanding
of the business environment & organizational goals.
⩥ Verizon Data Breach Investigations Report (1:14). Answer: Shows the
percentages of breaches per threat action, i.e. Hacking, malware, social
engineering
,⩥ Understanding the business (1:29). Answer: 1. Understand where
you've been
2.Understand business Strategy
3.Understand macro factors that affect business 4.understand and
develop relationships with key stakeholders
⩥ Business Model (1:41). Answer: 1. describes how you operate 2.
generate revenue and make profit 3. deliver value at a reasonable cost
⩥ Vertical Business Model (1:45). Answer: combines multiple steps in a
value chain into one organization e.g. development -> distro
⩥ Horizontal Business model (1:45). Answer: focus on one area of the
value chain e.g. Product development
⩥ PFF -Porter's Five Forces (1:47). Answer: Developed by Micheal E
Porter in 1979 who was an authority on competitive strategy and
economic development. Method used to develop business strategy by
understanding where power lies in a business situation
⩥ PFF - Power of Customers (1:47). Answer: Impact Customers have on
your business. Force Driven by the # of customers you have, their
importance to your business, and cost of switching them from you to
another company
,⩥ PFF - Substitute Products (1:48). Answer: The ability for your
customer to find substitute products or an easier way to do what you do
⩥ PFF - Power Of Suppliers (1:48). Answer: how easy is it for suppliers
to influence and drive up your prices. Uniqueness of their products, their
strength/control of you
⩥ PFF - Threats of new entrants (1:48). Answer: how easy is it for
people to join the market and can they become a threat and compete with
your company
⩥ PFF - Competitive Rivalry (1:48). Answer: Look at the competition
and their capabilities. If no one can do what you do, e.g.
products/services, you will have tremendous strength
⩥ Strategic objectives (1:56). Answer: -Based on understanding the
business model, strategy and competitive forces
-Very high level and often vague
⩥ Strategy Maps (1:56). Answer: - Links high-level strategic objectives
to specific projects, initiatives
-Shows how to turn strategy into tangible outcomes
-highlights gaps in strategy implementation
-helps communicate strategy to entire organization
, ⩥ PEST Analysis (1:65). Answer: Management tool to identify external
forces that impact a particular market, industry, or country.
⩥ PEST Analysis - Why (1:66). Answer: Helps you understand macro
trends of external environment in which your company operates, and it
provides an understanding of risks associated with market growth or
decline and your company's position and potential direction
⩥ PEST - P - Political (1:65,69,71). Answer: Government regulations
and legal factors that affect the business environment and trade market,
and they will likely trickle down impact on your company
⩥ PEST - E - Economic (1:65,74). Answer: The overall health of the
economy and how these factors influence companies, organizations, and
their decisions.
⩥ PEST - S - Social (1:65,78). Answer: Looks at cultural aspects of the
market and how they affect the demand for a company's products and/or
services; customer needs and determine what incents them to make
purchases
⩥ PEST - T - Technological (1:65,81). Answer: How technology can
either positively or negatively impact a business and the products and/or
services they provide. i.e. technology advancements, life cycle of
technologies, technology innovation