Name: Rvee Lorraine D.

Castor Gr & Section:

Gr11-SJM

Assignment #1

I. Answer the following;

1. What is a vision?

- It is a commonly share picture of what the organization want and is committed to

become sometime in the future. It is the guiding and motivating compass of the

organization—capturing the desired spirit of its people can passionately make the

organization to become. A vision can be expressed as the state in the future of what

the organization’s services, customers, stakeholders, core competencies, processes,

and structure may be.

2. What is a mission statement?

- It is an enduring statement of purpose of an organization’s existence that

distinguishes itself from others. It answers the questions: Who are we? Why do we

exist?

3. What are Values

- Values are fundamental and shared beliefs that will provide the organization’s

behavior in meeting its objectives and in dealing with others. Values are the

organization’s moral compass. They answer the question, “What is important to us?
 4. What is a strategic management framework?

- The Strategic Management Framework (SMF) involves an organization analysis from

different perspectives. It analyzes the company’s Strengths, Weaknesses,

Opportunities, and Threats (SWOT). It facilitates the subsequent formulation of the

Balance Score Card (BSC) which creates the foundation for your strategic plan.

5. What is SWOT?

- The SWOT is a powerful planning tool. It stands for “Strengths, Weaknesses,

Opportunities, and Threats.”

 “Strengths” refer to internal competencies possesses by an organization that

will enable it to achieve its objectives.

 “Weaknesses” are areas that limit or inhibit an organization’s overall success.

 “Opportunities” refer to economic, socio-cultural, political, technological,

demographic, and industrial trends and events that could significantly

benefit an organization in the future.

 “Threats” are economic, cultural, political, technological, demographic, and

industrial trends and events that are potentially harmful to an organization’s

present and future competitive position.

- A SWOT should be prepared for each of your company business/product activities.

The results of SWOT analysis will guide you in making the action plans:

 Capitalize on “Strengths”

 Reduce “Weaknesses”

 Use “Opportunities”

 Neutralize, Convert “Threats” into Opportunities

 6. What are the four steps in goal-setting?

- DATA GATHERING & SYNTHESIZING INFORMATION

 In this primary stage, you will initially be doing data gathering. If you are

thinking of embarking on a project or business, it would be necessary for you

to gather information that will help you find out if, indeed, it is feasible and

beneficial to the company.

- FORMULATING ALTERNATIVES

 Through effective data gathering and synthesis, you can arrive at a decision

on whether or not to pursue the business. You can also come up with

alternatives, or even a Plan B and a Place C, in case Plan A does not work.

- DECIDING ON COURSE OF ACTION

 The planning stage is the most difficult stage in the management process. It

includes an assessment of possible choices and chances along the way. You

will be confronted with challenges requiring objective analysis and judgment

to deal with varying situations, people with different interests, and critical

incidents that offer opportunity to succeed or fail.

- ESTABLISHING GOALS

 Defining your goals is the fourth and final step in the planning process. You

will not find it difficult to set your goals if you have a tool or technique to use.
 7. What are KRAs and KPIs?

- KRA or Key Result Areas are highly selective areas (usually four to five only) in which

an organization must achieve a high level of performance. They are critical success

factors for the business. Since these are critical to its success. KPIs, on the other

hand are indicators of performance establishes for each KRA.

Book reference: Organization and Management by Payos et.al pages 51-57