WGU Principles of Management C483|2023 LATEST UPDATE|GUARANTEED SUCCESS

Strategic Triangle "customer, corporation and competitors"-what does Dr Ohmae indicate that an organization can obtain by doing this? Sustained Competitive Advantage What does a value chain end with? Begins with Raw Materials and ends with Delivery of products or services What happens when an effective value chain is created? Profit Margins Increase Market & social analysis are examples of which step in the strategic planning process? Analysis of external opportunities and threats What denotes skills or expertise in an activity that constitutes the roots of competitiveness in an organization? Core Competencies Michael Porter's competitive model, how can suppliers influence strategic planning? Suppliers can reduce manufacturing time and increase product quality. A company offers unique products in its industry to create a competitive advantage. Which strategy is the company using? Differentiation Strategy Expands operations backwards & forwards (into suppliers or distributors) Vertical Integration Process of acquiring or merging with other industries Horizontal Integration Basic purpose & scope of an operation Strategic Mission Long-term direction & shows strategic intent Strategic Vision What you want to achieve Strategic Goals First step of strategic planning Develop strategic mission Revolutionize key organizational systems and processes Reengineering Last step in Deming's 14 points of quality management Take action and accomplish the transformation Determining if the project is complying with the organizational (and project) policies and procedures. Tasks include conducting audit Quality Assurance Measures specific project results (project) against standards. Activity is to inspect and verify the project's product defect, and measure if the quality indicators are improving or not Quality Control