TOTAL QUALITY MANAGEMENT

TOPIC REVIEW 3
(STRATEGIC MANAGEMENT: PLANNING AND
EXECUTION FOR COMPETITIVE ADVANTAGE)

Topic 3: Review Question

1. What is strategic management?

A : Strategic management is management that bases all actions, activities, and decisions
on what is most likely to ensure successful performance in the marketplace. The two major
components of strategic management are strategic planning and strategic execution.

2. List the steps in the strategic planning process.

1. SWOT Analysis
2. Develop the Vision
3. Develop the Mission
4. Develop the Guiding Principle
5. Develop the Broad Strategic Objective
6. Develop the Specific Tactics

3. What is a core competency?

A : Core competencies can be identified through SWOT analysis in the part of its strength.

4. Explain why creative thinking is important in strategic planning and how to encourage
it.

A : One of the most important traits of a workplace leader, creative thinking, is essentially the
ability to think in new and different ways when applied to everyday problems. In this regard,
contrary to popular belief, every leader can and should be creative, at least some of the
time, and in this brief article we’ll explore how this might occur and where creative thinking,
in general, might be applied.

5. What is SWOT analysis?

A : SWOT is strength, weakness, opportunities and threats.

6. Write a sample vision for a hypothetical organization.

A : The Institute for Corporate Competitiveness (ICC) will be recognized by its customers as
the provider of choice for organization development product that are the best in the world.

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7. Write a mission statement for the hypothetical organization in Question 6.

A : The Institute for Corporate competitiveness (ICC) as a business development company

dedicated to helping organizations continually improve their ability to compete in the global
marketplace. To this end, ICC provides high quality, competitiveness-enhancing product and
services to an ever-increasing number of organizations in the united states.

8. Draft a set of guiding principles for the hypothetical organization in Question 6.

A : Company will upload the highest ethical standards in all of its operations.

9. Establish two or three broad objectives for the hypothetical organization in Question 6.

1. To produce organizational development products of world class quality that are

improved continually.
2. To provide organizational development services of world class quality that are
improved continually.

10. Describe the steps you would apply in executing your strategic plan developed in
Questions 5-9.

1. Arrange TQ training for all executive managers.

2. Arrange teamwork training for all executive managers.
3. Give all employees training in the use of problems-solving/quality tools.
4. Give all employees training in continual improvement methods.
5. Establish a company – supported off – duty education program for all employee.