1. Give an example of a strategic objective and an operational objective from an organization you work for or have worked for.

LO: 5-1: Describe how strategic planning differs from operational planning.

2. Conduct a simple five-force competitive analysis for a company you work for or have worked for. Use Exhibit 5-4 as an example.

LO: 5-2: Explain the reason for conducting an industry, competitive, and company situation analysis.

3. Using the model for writing objectives, write one or more objectives for an organization you work for or have worked for, making sure they meet the “must” criteria.

LO: 5-3: State the criteria for an effectively written objective by identifying must and want criteria.

4. State the grand strategy for an organization you work for or have worked for.

LO: 5-4: Discuss corporate-level strategies in terms of the four grand strategies and the three growth strategies.

5. Identify the adaptive strategy used by an organization you work for or have worked for. Be sure to describe how it used the strategy.

LO: 5-5: Summarize the three business-level adaptive and competitive strategies.

6. Give an example of a policy, a procedure, and a rule from an organization you work for or have worked for.

LO: 5-6: Identify strategies for short-range operational planning.

7. Review your time log to identify your three biggest time wasters. How can you cut down or eliminate these time wasters?

LO: 5.7: Describe the value of a time log analysis.

Additional Work Application Questions (not in the book)

1. Does a business you work for or have worked for have one or multiple lines of business? List the line(s).

LO: 5-2: Explain the reason for conducting an industry, competitive, and company situation analysis.

2. List a couple of the major strengths and weaknesses of an organization you work for or have worked for.

LO: 5-2: Explain the reason for conducting an industry, competitive, and company situation analysis.

3. State one or more goals of an organization you work for or have worked for.

LO: 5-3: State the criteria for an effectively written objective by identifying must and want criteria.

4. Identify any growth strategies used by an organization you work for or have worked for. Be sure to identify the type of growth strategy and note if any mergers, acquisitions, joint ventures, or strategic alliances were used.

LO: 5-4: Discuss corporate-level strategies in terms of the four grand strategies and the three growth strategies.

5. Identify one functional area of an organization you work for or have worked for. What was its operational strategy?

LO: 5-1: Describe how strategic planning differs from operational planning.

6. Give an example of a program you were involved in at work.

LO: 5-6: Identify strategies for short-range operational planning.

7. Describe a situation in which a contingency plan is appropriate. Explain the plan.

LO: 5-6: Identify strategies for short-range operational planning.

8. From the time management techniques listed in the Self-Assessment, choose the three most important ones you should be using. Explain how you will implement each technique.

LO: 5-7: Describe the value of a time log analysis.