The Capabilities That Employees Possess Can Form the Basis of Competitive

question 71

True/False

The capabilities that employees possess can form the basis of competitive advantage.

Understand the concept and importance of planning in organizations.

Identify different types of planning, including strategic, tactical, contingency, and participatory planning.

Describe the role and characteristics of management by objectives (MBO).

Recognize the importance and process of scenario planning and benchmarking.

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Definitions:

Marketing Plan

A comprehensive document or blueprint that outlines a company's advertising and marketing efforts for the coming period.

Control Phase

The stage in a process where measures are applied to monitor and adjust the system's performance to ensure that it meets predetermined goals.

Implementing Phase

The stage in a project or strategy where planned actions are executed.

SWOT Analysis

A strategic planning tool used to identify the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.