MG352 Week- 3
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The results of the _____ analysis limit the feasible strategic alternatives.
What does SWOT stand for?
: strengths (internal)
: weaknesses (internal)
: opportunities (external)
: threats (external)
A _____ is a distinct business that has its own set of competitors and can be managed independent of other elements within the organization.
Strategic Business Unit
List at least five objectives of mission statement.
ensure unanimity of purpose within the organization;
provide a basis for motivating the use of the organization's resources;
develop a basis for allocating organizational resources;
establish a general tone or organizational climate;
serve as a focal point for those who can identify with the organization's purpose and deter those who cannot from participating in its activities;
facilitate the translation of objectives and goals into a work structure for the organization;
specify organizational purposes into goals.
Long-range plans span at least ____ to five years.
Managers who attempt to _____ without a plan find themselves reorganizing on regular basis.
_____ planning is applied at the highest levels of the organization.
What is international trade?
International trade consists of the exchange of goods and services by different countries.
What is planning?
Planning is the process of deciding what objectives to pursue during a future time period and what to do to achieve those objects.
Under the terms of _____, businesses in the United States, Mexico, and Canada can sell their products anywhere in North America without facing major trade restrictions.
Implementing embargoes or quotas does not help domestic manufacturers compete against foreign companies.
E-commerce refers a region within which trade restrictions are reduced or eliminated.
The purpose of a _____ is to raise the price of foreign goods in order to allow domestic manufacturers to compete.
OPEC's effectiveness is limited because several member countries sell and produce at levels considerably different from official OPEC standards.
MG352 Week- 3
Principals of Management #3