Discuss how strategic planning can be made effective
What will be an ideal response?
ANSWER: Effective strategic planning requires continual attention, creativity, and management commitment. Strategic planning should not be an annual exercise in which, managers go through the motions and forget about strategic planning until the next year. It should be an ongoing process because the environment is continually changing and the firm's resources and capabilities are continually evolving. Sound strategic planning is based on creativity. Managers should challenge assumptions about the firm and the environment and establish new strategies.
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The Swiss Re bond is referred to as a catastrophebond. Why?
What will be an ideal response?
A ________ is a broad statement of an organization's purpose that provides an overall guide to what organizational members think is important
A) mission B) proposal C) project D) preamble