Summary: Tweede Vak: Minoes

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• 1 Strategie

• 1.1.1.1 Introduction

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• What distinction is there in views about strategy?

  • Intended course of action
  •  realized course of action

• What is strategy formation?

  The process by which a realized strategy is formed.
  It encompasses both formulation and action.
  It is the entire process leading to strategic behaviour in practice.

• 1.1.1.2.1 Strategy formation activities

• What are the 8 basic building blocks of the strategy formation process?

  Identifying
  

  • mission setting
  • agenda setting

  Diagnosing
  

  • external assessment
  • intern assessment

  Conceiving
  

  • option generation
  • option selection

  Realizing
  

  • action taking
  • performance control
    

  
  

• What is a mission?

  The enduring set of fundamental principles outlining what purpose the organization wishes to serve, in what domain and under which conditions.

• What is an external assessment?

  The activity of investigating the structure and dynamics of the environment surrouding the organization.
  Includes a scan of the direct (market) environment en the broader (contextual) environment.

• What is an internal assessment?

  The activity of investigating the capabilities and functioning of the organization.
  This includes an assessment of the business system and the organizational system.

• What is strategic decision-making?

  The activities of assessing strategic options and arriving at a selected course of action.

• 1.1.1.2.2 Strategy formation roles

• What explains the main variations in who carries out the activities of the strategy formation process?

  The differences are due to a different division of labour along the following dimensions:
  

  • top vs middle vs bottom roles
  • line vs staf roles
  • internal vs external rols 

• What are the benefits of formalization and a strategic planning system?

  Having a unambiguous responsibilities, clearer accountablility and stricter review of performance will lead to a better functioning organization.
  It gives top management more control over the organization.

• What are the potential dagers of using a formal planning system?

  Important aspect that are difficult to capute in procedures, like crating new insights, learning, innovation, building political support and entrepreneurship, can be sidelined or crushed by bureaucratic mechanism. 
  It can make the system inflexible, unresponsive, ineffective en demotivating.