Strategic Managment and Business Policy (Essay Sample)
I need a short essay written to answer the following 4 question in APA 6th edition format. Please answer each question and number accordingly.
What are the responsibilities of top Management?
What is meant by a hierarchy of strategy?
The impact of globalization and the Internet presents real challenges for corporate strategic planners across the world. What is the impact of globalization and the Internet on the corporate world? Explain the important role of strategic planning in today's competitive business world in light of these two forces?
What are the responsibilities of the board of directors? Please provide an example of a board of directors that did not meet its responsibilities.
The reading material can be pulled from chapters 1 & 2 Basic Concepts of Strategic Management and Corporate Governance. The book Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2015). Concepts in strategic management and business policy: Globalization, innovation, and sustainability (14th ed.). Upper Saddle River, NJ: Pearson
I need these questions answered by June 8th.
Basic concepts of strategic management
Each category of stakeholders in an organization has their responsibilities which they ought to fulfill in order to ensure smooth running of business. The top management has a responsibility of ensuring protection of integrity of the business. Their deliberations point towards protection of integrity of the business for the sake of the many stakeholders including the customers, the employees and the suppliers. The top management also has a responsibility to run the organization outside being responsible for personally providing the funds. Wheelen, Hunger, Hoffman & Bamford (2015) assert that; the top management is responsible for establishing basic corporate policies. When the policies have been refined, it is the responsibility of the top management to ensure that they are followed by the relevant people.
Hierarch of strategy denotes a kind of relationship of the corporate strategies and sub- strategies. The individual strategies are arranged logically in accordance with the vision, mission, goals and metrics. In coming up with the arrangement, there could be utilization of the various methods such as top-down, bottom â€“up or the bidirectional planning. Wheelen, Hunger, Hoffman & Bamford (2015) note that; the hierarchy of strategy helps the top management in priorities aspects in organization. Again, the hierarchy helps to align t...
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