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Additional info for ACCA P3 Business Analysis: Study Text
Operational strategies are then developed for component parts of SBUs. 1 Corporate strategies Corporate strategy is concerned with the overall purpose and scope of the organisation and how value will be added to the different parts (business units) of the organisation. JS&W as Key term Defining aspects of corporate strategy Comment cc Characteristic Strategy and strategic management impact upon the whole organisation: all parts of the business operation should support and further the strategic plan.
Quick Quiz as tud ym a What is strategy? 2 What are the four elements of the Ashridge model of mission? 3 What are the qualities of SMART objective? 4 What are the three elements of the JS&W model of strategy? 5 What are the three strategy lenses and what are the relationships between them? co m 2 3 4 5 The JS&W definition of strategy is worth committing to memory. Essential elements are long-term direction and scope; advantage; changing environment; resources and competences; and stakeholder expectations.
Realistic means much the same thing as achievable, anyway. ym a (a) Functions of objectives tud There are other variants: achievable may be replaced with attainable, which has an almost identical meaning, and relevant (meaning appropriate to the group or individual concerned) has been proposed as a third option for R. Planning: objectives define what the plan is about. (b) Responsibility: objectives define the responsibilities of managers and departments. (c) Integration: objectives should support one another and be consistent; this integrates the efforts of different departments.
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