Strategic Management Fundamentals
Fundamentals of Strategic Management of the St. Gallen Management Model, Objectives, Vision/Mission
Fundamentals of Strategic Management of the St. Gallen Management Model, Objectives, Vision/Mission
Set of flashcards Details
| Flashcards | 12 |
|---|---|
| Language | English |
| Category | Micro-Economics |
| Level | University |
| Created / Updated | 13.01.2018 / 21.03.2018 |
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What is the basic concept of the St. Gallen Management System
Input, Transformation, Output
Strucure and Culture follows:
What are the 3 processes in the St. Gallen management model?
Management Process
Business Process
Support Process
What are the modes of development
Renewal
Optimization
What are the 3 different levels of the management process?
Normative orientation process (basic principles of behaviour towards stakeholders with fairness)
Strategic development process (development of a strategy with longterm success)
Operational leadership process (employee leadership with efficency of daily business in mind)
Name the 3 economic principles:
Maximum Principle
Minimum Principle
Optimum Principle
What is the difference between Strategic and Tactical/Operative Management?
Strategic: long term success, effectiveness and growth (5+ years, low detail)
Tactical/Operative: implementation of strategic plans (1 year, high detail)
What are the bassic elements of the strategic management process?
What is the hirarchy of strategies?
Normative Level (20 years)
Corporate Strategy
Example: Lufthansa Holding Vision
Strategic Level (5-10 years)
Business/Competitive Strategies
Example: Lufthansa Cargo Competitive Strategy
Functional Level (2 years - 2moths)
Operative/Tactical Strategie
Example: Lufthansa Marketing Strategy
What are possible Business Units of Lufthansa?
What is the core question of the Company Vision and on which time horizon?
What do we want to become? (up to 10 years)
What is the core question of the Company Mission statement? And what are some characteristics of it?
What is our business?
- Guiding Principel
- Behaviour among company members
- Behaviour towards external partners
Radio NRJ Example: We play hits and brodcast news for listeners in the german speaking part of CH.
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