Review this article on corporate strategies. Not all firms can make a profit, and sometimes they must cut back. Consider the pros and cons of each retrenchment strategy: turnaround, divestment, bankruptcy, and liquidation. Show
Then, watch the video from Henry Mintzberg, where he discusses how the strategy must come from the bottom and not from the leaders.
Consider how your organization addresses strategy. Are decisions being made by leaders or from the bottom?
Henry Mintzberg's 5 Ps of Strategy:
Corporate Strategies are organizational-level decisions that focus on long-term survival. Grouped within Corporate Strategies are:
Business strategy: Plans to build a competitive focus in one line of business. The Strategic Planning Process Steps:
A competitive advantage can be achieved by utilizing the company's resources, which are:
Source: Brightline: Henry Mintzberg, https://www.youtube.com/watch?v=CyT8MMQB2FA Last modified: Friday, March 25, 2022, 2:42 PM Which of the following is part of an organization's task environment?The task environment consists of specific dimensions of the organization's surroundings that are very likely to influence the organization. It also consists of five elements: competitors, customers, suppliers, regulators, and strategic partners.
Which of the following is not a part of an organization's general environment?Answer and Explanation: The correct answer is D) competitors. Competitors are not categorized as part of an organization's environment; they are not involved in organizational decision-making and development strategies.
Which of the following is usually part of an organization's general environment?The general environment also referred to as the external environment comprises of economic, political, social, technological, and legal factors. Legislators are part of the political and legal factors, in that legislators are officers who are elected into power by individuals; most legislators are politicians.
Which of the following is part of an organization's internal environment?An organization's internal environment is composed of the elements within the organization, including current employees, management, and especially corporate culture, which defines employee behavior.
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