Assignments of Engineer Abdlellatif


Define the following terms: –                                                                                                                                                  Annual objectives: are short-term milestones that originations must achieve to reach long-term objectives. Competitive advantage: anything that a firm does especially well compared to rival firms. Polices:  annual objectives will be achieved including guide-lines, rules, and procedures established to support efforts to achieve states objectives. Strategic management: the art & science of formulating, implementing, and evaluating cross-functional decision that enable an organization to achieve its objectives. Intuition: is essential to making good strategic decisions.                                                                     Strategic management: – 1) formulate. 2) Implement. 3) Evaluate.                                                                                Why it’s important? 1) Growing the business. 2) Increase market share. 3) Establish personal life.                       4) Grow the size of the company.                                                                                                                                Formulation:  1) mission & vision. 2) External & internal basement. 3) Long term objectives. 4) Annual objectives. 5) Select strategy.                                                                                                                                              Vision: a brief statement of what you want to become.                                                                                                         Mission: A detailed statement of where the company is heading (direction).                                                         Vision components: 1) Brief. 2) Verifiable. 3) Bound by time. 4) Current. 5) Focused. 6) Understandable. 7) Inspiring. 8) Stretch.                                                                                                                                                                            Mission components: 1) employees. 2) Customers. 3) Product or services. 4) Markets. 5) Technology.    6) Survival growth profits. 7) Philosophy. 8) Self-concept. 9) Public image.                                                 Characteristics of mission statement: 1) broad in scope. 2) Less than 250 words in length. 3) Inspiring. 4) Identifies the utility of a firm’s products. 5) Reveals that the firm is socially responsible. 6) Reveals that the firm is environmentally responsible.                                                                                                                                                     

Forward integration: For example, a cafe needs many tools and materials like: chairs, tables, cups, forks, knives, spoons, and dishes) so it has its own factories that produce its own tools.                                                                                                                                                   Backward integration: For example brilliance it’s a cars manufacturing company takes its tools, parts and motors from another company which is BMW.                                                                                                   Horizontal integration: For example laptops HP had a great depression in the market so it wanted to get back control the market, so it has taken control upon laptops apple and that was a real success in being seen again in the market.                                                                                                                                            Market penetration: For example Sony is paid a lots of money in developing new versions of mobile phones that can take a photo under the water, to penetrate the market.                                                                        Market development: For example if a company is selling cameras in Alexandria and it wants to sell more so it goes to country sides to sell its product in.                                                                                      Product development: For example BMW upgrading its cars to be better than any kind of cars in the world so it increases its product to increase its sales and profits.                                                                                 Related diversification: For example a company is losing, it produce a new product, but related to the brand. For example Samsung making mobiles, it makes note 4, if this mobile fail, so Samsung will produce not 5 not to lose the business.                                                                                                                    Unrelated diversification: For example, if Toshiba lose in the market it might make different products like air condition, and LCDs.                                                                                                                               Retrenchment: For example if a battery of a mobile doesn’t work. You might buy another one, it is better than buying a new mobile because of the battery doesn’t work.                                                               Divesture: a company is losing it sell a division or a part of organization.                                  Liquidation: selling all the company, for example Daewoo cars company want to sell its company, Chevrolet Company buy it.

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