DOCSLIB.ORG

Next Generation Procurement Achieving Growth and Creating Sustainable Value 2 | Procurement Advisory Procurement Advisory | 3 Table of Contents

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Next Generation Procurement Achieving Growth and Creating Sustainable Value 2 | Procurement Advisory Procurement Advisory | 3 Table of Contents Procurement Advisory Next generation procurement Achieving growth and creating sustainable value 2 | Procurement Advisory Procurement Advisory | 3 Table of Contents The Future of Procurement 04 Our View of Procurement in ASEAN 06 Driving Procurement Excellence 08 Bringing Benefits to You 10 Offerings that can Promote Excellence 12 and Innovation 4 | Procurement Advisory The Future of Procurement The role of Procurement functions must be bold, vigilant and The changing role of Procurement collaborative. They must move will see an increasing demand for is fast changing to keep beyond the traditional role of a buyer employees with strong analytical and pace with business and deliver more strategic value. strategic thinking skills, able to more This new strategic role will require effectively manage business and demands. Best-in-class Procurement’s increased collaboration vendor relationships against a backdrop Procurement functions with both business and suppliers. of a limited talent pool. are evolving to become …internally To attract and retain talent, it business partners, Collaboration with internal business is essential to develop a talent units alone is insufficient against management plan. This should shifting their focus to the backdrop of a global drive for be implemented through ongoing strategic and sustainable productivity and continuous savings. investment in Procurement training There is a need for organizations to academies and certification programs. value creation and take on a cross functional sourcing Such initiatives should also articulate preservation - to deliver approach entailing close collaboration clear retention strategies and robust bankable dollars. with key stakeholders across Business, career pathways for both existing and Finance and other areas. new Procurement professionals. EXECUTING THE FUNDAMENTALS …externally The cost of doing business is on There is a pressing need for the rise. With Procurement Procurement to strengthen supplier representing the largest share of a partnerships, reduce supply chain typical organization’s overall costs, risk and embrace innovation and the function should be a priority area operational excellence. for businesses. Introducing and measuring the Considering that Procurement functions right levels of incentives and key in The Association of Southeast performance indicators (KPIs) can help Asian Nations (ASEAN) are often less foster collaboration and deliver greater developed than in other regions, it sustainable long term value. Tony Rawlinson is crucial to get the fundamentals Partner, Head of Business right through implementing effective Enabling Procurement Transformation procure-to-pay processes, executing Having the right technology solution strategic sourcing activities and to support Procurement can provide Management Consulting, ASEAN enabling the right technology solutions. organizations with reliable spend data. KPMG in Singapore Automation can enhance business Implementing the fundamentals processes and provide greater A next generation presents an opportunity for spend and budgetary control, while Procurement Organization organizations to significantly reduce strengthening the links between “ costs, improve sourcing efficiency Procurement and the finance function. is effective and efficient - and positively impact their cost This will enable Procurement to streamlining processes, exploiting income ratio. evolve beyond its transactional role technology and enabling active to a more strategic one, realizing collaboration with stakeholders to NEW WAVE OF PROCUREMENT greater value via sourcing, category Driving collaboration management, and supplier relationship achieve strategic goals and create To be leading-edge, Procurement management. sustainable value.“ Procurement Advisory | 5 Challenges faced by procurement leaders today • Lack of skilled Procurement resources with a strategic view Organization • Limited partnership between Procurement and business • Legacy structures • Disparate technology provision Systems & Technology • Lack of analytics to understand addressable spend, controls and risks • Off-contract ‘maverick’ spend • Stricter regulatory and legal requirements Risks & Controls • Loosely delegated authorities • Incidence of fraud • Lack of standardization of processes and inefficiency Processes & Metrics • Lack of consistent measurement of procurement savings 6 | Procurement Advisory Our View of ASEAN What is the call to have allowed organizations to Engage suppliers identify potential improvements The supplier landscape in ASEAN action for Procurement in value creation and operational poses challenges in delivering quality functions? performance, providing a robust and service consistently across the framework to deliver efficiencies and region. The need for Procurement to Focus on risk management and sustainable savings. become strategic thinkers to harness governance the value of operating in this region is With the increase in business Unlock value critical. Engaging in advanced activities across ASEAN, the ASEAN Procurement functions will supplier relationship and performance adequacy of risk management and need to move beyond the management is paramount in order business continuity becomes more traditional role of cost management to add more value. important. Procurement needs to and prioritization of spending to take on a more proactive role in deliver more strategic value to the an organization’s risk management organization. The development of strategy and work with the business stronger Procurement capability in to develop strategies to mitigate category management, strategic supply chain risks, while having in sourcing, demand management and place a contracting and governance supplier relationship management is model that allows the business to required to cash-in on the bankable stay agile. dollars from superior Procurement management. Optimize and leverage technology Gerard Seng In promoting the use of technology Build competency across the Director, Procurement Advisory for contract management and organization Management Consulting, ASEAN enhancing data analytics capabilities, The complex Procurement KPMG in Singapore Procurement functions can drive environment in ASEAN demands that increased cost savings, improved Procurement professionals possess Given the resistance to cash flow, strategic management a mix of soft and technical skills. The of supplier relationships and greater talent crunch experienced in this “change, ASEAN Procurement risk mitigation. region suggests that organizations organizations still face cultural will need to strengthen training challenges to transform into Establish an optimum operating and coaching programs to build a more value-adding function. model sustainable capabilities. Businesses Procurement must invest in While there is no one-size-fits all should be equipped with skills to changing the existing mindset and model, center-led models correlate understand how to collaborate with most closely with procurement Procurement and involve Procurement empowering the organization to benefits realized. Reviews of earlier in the process in order to manage the entire Procurement Procurement operating models increase overall shareholder value. transformation journey. “ Procurement Advisory | 7 Case study 1: Building regional Procurement capability for one of ASEAN’s largest financial services organizations A financial group needed to The KPMG team designed Benefits to the client includes transform its Procurement and implemented a holistic a potential first year savings function into a commercially-driven transformation program. exceeding US$ 25 million with organization geared to deliver further material annual savings. sustainable savings. This includes: The client also achieved significant • review of current Procurement To achieve this, the client required a spend visibility through the operating model, processes, major Procurement transformation adoption of a single technology maturity and gap analysis project designed to: interface across the region. This • deployment of a spend analysis allowed the client to methodically • define the transformational tool to establish a baseline and reduce overall spend through a change needed to establish a identify savings opportunities regional savings program. leading regional Procurement organization within 3 years • design and implementation of Other outcomes and benefits Target Procurement Regional • provide the technology enablers include: Operating Model, including to achieve the necessary change organization structure and • a fully designed center-led • enhance strategic sourcing technology requirements regional Procurement operating and category management model implemented • competency and capability gap capabilities to achieve assessment and identification • an organization structure and immediate and sustainable of up-skilling and training needs FTE identification aligned to savings best practices • category pilots to develop • implement a new regional category management skills and • procurement policy and process Procurement organization capabilities handbooks to institutionalize • support in negotiation for a commercially-driven • design of a robust strategy to contract that represented the procurement principles and renegotiate key contracts single highest contract across support Procurement processes the bank (> US$ 30 million per • KPI framework and savings annum) handbook • up-skilling and development of category management capability Procurement
Load more

Recommended publications
  • Police Chief Magazine - View Article
    Police Chief Magazine - View Article Strategic Management in Policing: The Role of the Strategic Manager By Kim Charrier, Strategic Manager, Phoenix Police Department, Arizona Strategic management is a process by which managers choose a set of actions that will allow their organization to attain one or more of its long-term goals and achieve superior performance. Successful police executives are driving organizational change through strategic management-an ongoing process that seeks opportunities to enhance operational efficiencies by identifying internal issues and external influences that hinder organizational sustainability. It focuses on management's responsibility for implementation to create a customer-focused, high-performance learning organization. Strategic managers integrate strategic planning with other management systems. Executives know that community policing, external and internal environments, political influences, homeland security, and new technologies are molding the profession into a more engaging system. Today, policing has evolved into a highly complex structure that requires dynamic leadership paradigms and an organization that is adaptable to a fast- paced world. To be successful in today's law enforcement environment, police executives must set the course with strategic management. Known as the "institutional brain" of a modern public organization, strategic management takes into account systems-thinking approaches while tapping into human emotions that drive organizational change.1 Strategic management is a systems
    [Show full text]
  • Integrating the Accounts Payable and Procurement Functions
    PERSPECTIVE Driving excellence together: Integrating the accounts payable and procurement functions Abstract The accounts payable (AP) and procurement functions are two sides of the same coin. A key factor toward making these functions deliver outstanding results is the integration of their transactional and strategic activities. This paper provides a perspective on the approach to be followed while setting up an integrated procure- to-pay function (P2P). Background While recent trends across the world continues to maintain its relevance. ended up being just a cosmetic exercise in are heavily tilted towards automation in Although this need is felt all around, many renaming department names as ‘procure-to- accounts payable, the need for a well- organizations have failed on the execution pay’, ‘requisition-to-pay’, or ‘procure-to-settle’. integrated procure-to-pay (P2P) function that front. More often than not, an enterprise’s While the intent was good, the results have can drive accounts payable (AP) performance drive towards an integrated P2P function has not always been impressive. Tying the procurement and accounts payable functions together The AP and procurement functions hold The key focus areas of these two functions are detailed in the table below. great potential to unleash the synergies in their key objectives, focus areas, and Key Focus Area Procurement Accounts Payable challenges. Let us look at these briefly. Faster procurement of goods or services Yes – The key objective of a procurement team Procure at best possible price Yes – is to procure goods and services within Obtain invoices on time Indirect Yes stipulated timelines at the best available Process invoices in timely fashion – Yes price, whereas that of an AP team is to Pay invoices on time Yes Yes process and pay invoices on time.
    [Show full text]
  • RFP for Enterprise Resource Planning System (ERP) RFP Title: Procurement
    RFP Number: RFP # IS18-14 RFP for Enterprise Resource Planning System (ERP) RFP Title: Procurement Submittal Deadline Deadline November 17, 2017 @ 4:00 PM PST Name Patricia Garcia, Buyer Submittal Form VIA EMAIL ONLY Email [email protected] RFP TIME LINE: The anticipated schedule for this RFP is as follows: Activity Date/Time RFP Issue Date October 4, 2017 Pre-Proposal Conference Call October 13, 2017, 10:00 AM – 11:00 PM PST Final Written Questions Due October 20, 2017, 4:00 PM PST Final Addenda Posted October 27, 2017 Proposal Submission Deadline November 17, 2017, 4:00 PM PST Shortlist Notification December 15, 2017 Onsite Demonstrations January 2018 Recommendation to Council March 2018 Purchasing Division 300 West Third Street Oxnard, CA 93030 (805) 385-7538 www.oxnard.org September 27, 2017 Ladies and Gentlemen: The City of Oxnard invites proposals from qualified vendors to provide all or part of an Enterprise Resource Planning solution for the City. The City will consider solutions that are Software-as-a- Service (Saas) or On-Premises systems; preference will be given to the systems where functionality is superior. Vendor’s proposals will be preferred if they are providing most, if not all, components of a complete solution, even if they are partnering with other vendors to complete their solution. This request for proposal is made up of the following sections: A. RFP Narrative, which includes the City’s General Terms and Conditions and two (2) Attachments, a sample Consulting Services Agreement and insurance requirements, B. Functional Requirements, and C. Proposal Response Forms. For your bid, you are required to return B and C in their native format as provided and completed by your firm.
    [Show full text]
  • Why Procurement Professionals Should Be Engaged in Supply Chain
    business solutions for a sustainable world WBCSD Future Leaders Team (FLT) 2011 Why procurement professionals should be engaged in supply chain sustainability “The Future Leaders Team is an unparalleled of common challenges – across sectors – and learning experience for young managers of WBCSD shared best practices. Above all, they experienced member companies. They have the opportunity to what is recommended here: engaging people in understand the benefits of why sustainability matters sustainability. I am convinced that they brought back to business and to develop a solid international valuable knowledge and information to their jobs.“ and professional network. Sustainability is complex subject is some cases, and it is therefore crucial for Congratulations to Eugenia Ceballos, John Zhao, multinational companies to enrich their work with Baptiste Raymond, and to all participants of the other companies’ experiences through collaboration. Future Leaders Team 2011! FLT 2011’s theme was sustainability in the supply chain, which is increasingly considered as an area of direct responsibility for companies. The following report reflects FLTs’ peer learning experience and team work. This is not the work of experts or consultants. Rather, the three managers from DuPont China, Holcim and Lafarge, took this opportunity Kareen Rispal, to engage with key people across functions and Lafarge Senior Vice President, geographies within their companies. In doing Sustainable Development so, they have deepened their understanding and Public Affairs I. Why procurement functions all stakeholders involved in bringing products and services to market. should be engaged in sustainability for their We believe that a sustainable supply chain can drive supply chain: competition and profit, and is a great opportunity to make a difference to companies, communities 1.
    [Show full text]
  • REQUEST for INFORMATION for Enterprise Resource Planning (ERP) Software, and Implementation and Integration Services
    City of Rockville RFI 08-18 RFI for ERP Software and Services City of Rockville Rockville, Maryland REQUEST FOR INFORMATION For Enterprise Resource Planning (ERP) Software, and Implementation and Integration Services Responses Due by 2:00 P.M. Eastern Time, Friday, September 8, 2017 ISSUED BY: Jessie J. Woods, Senior Buyer Procurement Division City of Rockville, City Hall 111 Maryland Avenue Rockville, Maryland 20850 Phone: (240) 314‐8430 Fax: (240) 314‐8439 Any individual with a disability who would like to receive the information in this publication in another form may contact the ADA Coordinator at 240‐314‐8100, TDD 240‐314‐8137 MFD Outreach Program It is the intent of the City of Rockville to increase opportunities for minority, female and disabled (MFD) owned businesses to compete effectively at supplying goods, equipment, and services to the City, within the constraints of statutory purchasing requirements, departmental needs, availability, and sound economical considerations. Suggested changes and MFD enhancements to this solicitation’s requirements for possible consideration and/or inclusion in future solicitations are encouraged. Page i City of Rockville RFI 08-18 RFI for ERP Software and Services Table of Contents 1.0 INTRODUCTION ............................................................................................................................................. 3 1.1 Intent of RFI ................................................................................................................................... 3 1.2
    [Show full text]
  • STRATEGIC SUPPLY MANAGEMENT STRATEGIC SUPPLY STRATEGIC SUPPLY MANAGEMENT PRINCIPLES, THEORIES and PRACTICE MANAGEMENT PRINCIPLES, THEORIES and PRACTICE ‘Cousins Et Al
    9780273651000_COVER.qxd 11/29/07 2:43 PM Page 1 PRINCIPLES, THEORIES STRATEGIC SUPPLY MANAGEMENT SUPPLY STRATEGIC STRATEGIC SUPPLY STRATEGIC SUPPLY MANAGEMENT PRINCIPLES, THEORIES AND PRACTICE MANAGEMENT PRINCIPLES, THEORIES AND PRACTICE ‘Cousins et al. have drawn from their extensive experience in industry, and crafted a book that provides deep contextual insights into why supply chains are the foundation for competitive strategy, the dynamics that drive economic change, and most importantly, the importance of relationships as the glue that keeps supply chains functioning properly. Executives and students will benefit from the frameworks, examples, and discussions in this book, which AND should be on everyone who has an interest in global competitiveness’ bookshelves.’ Rob Handfield, Bank of America University Distinguished Professor of Supply Chain Management, PRACTICE North Carolina State University Development of supply chain strategies has become a major growth industry in its own right; most organisations now see managing their supply chain as a key strategic issue. The main tenet of this book is that supply needs to be thought about as a dynamic strategic process, and not as a bureaucratic business function. Strategic Supply Management: principles, theories and practice traces the development of purchasing and supply management from its origins as a tactical commercial function into a key strategic business process. Integrating conceptual models, including the strategic supply wheel, with a host of practical examples, the authors illuminate the philosophy, concepts and techniques of supply management. They also contrast the traditional, conventional concepts of purchasing and supply management with new ideas, radical concepts, and examples of interesting practice. BENN LAWSON COUSINS PAUL Designed to provide a comprehensive course structure for teaching and studying this wide-ranging and constantly developing topic, this book guides the reader through the subject with clarity and logic.
    [Show full text]
  • Use of Strategic Marketing Management Tools in Contemporary Enterprises
    Marketing i Zarządzanie nr 5 (46) 2016, s. 9–16 DOI: 10.18276/miz.2016.46-01 ISSN: 2450-775X | http://wnus.edu.pl/pl/miz/ Paweł Cegliński Uniwersytet Mikołaja Kopernika w Toruniu Wydział Nauk Ekonomicznych i Zarządzania e-mail: [email protected] Use of strategic marketing management tools in contemporary enterprises JEL codes: M10, M30 Keywords: strategic management, strategic marketing, management tools Abstract. This article aims at a brief presentation of problems with the use of strategic marketing management tools in enterprises, which are becoming a basic category of stra- tegic management. The author has resigned from analysing specific management solutions and focused mainly on theoretical issues with a wide scope of reference. First, the author presents a terminology network, which is slightly disregarded in the Polish literature. Next, the author makes an attempt to outline basic problems, including the problems connected with the preferences of managerial choices and the advantages of their proper use. The au- thor’s comments are intended to trigger further detailed empirical research. Introduction The quickly changing modern and complex business environment makes it even more difficult for enterprises in the market to conduct their activities. The enter- prises face even greater requirements and are forced to be active (Andruszkiewicz, 2007). It can be noticed that the increase of the degree of strategic plans usage correlates positively with the increase of environment instability (Brews, Purohit, 2007). This, in turn, is a presumption that their character will evolve all the time. 10 Paweł Cegliński A basic task of strategic management is to build and maintain competitive advantage of an enterprise, which should make it possible to achieve above-average results of its business activities.
    [Show full text]
  • Earned Value Management (EVM) System Description
    NASA/SP-2019-3704 Earned Value Management (EVM) System Description National Aeronautics and Space Administration November 1, 2019 Electronic copies are available from: NASA STI Program: https://wwww.sti.nasa.gov NASA STI Information Desk: [email protected]/ (757) 864-9658 Write to: NASA STI Information Desk Mail Stop 148 NASA Langley Research Center Hampton, VA 23681-2199 NASA Engineering Network (NEN) at https://nen.nasa.gov/web/pm/ (inside the NASA firewall only). OCFO-SID EVM Homepage at https://community.max.gov/dis- play/NASA/Earned+Value+Management+HOMEPAGE (inside the NASA firewall only) RECORD OF REVISIONS R E DESCRIPTION DATE V Basic Issue November 2013 1 Incorporate IPMR, ANSI/EIA-748 reference change March 2016 2 Added EVM reciprocity, scalability and new EVM $250M threshold January 2018 Added SMD Class-D EVMS Deviation, revised Intra-Agency Work Agree- ment EVM requirements, updated links, updated NASA EVMS requirements 3 September 2019 thresholds chart, deleted special publication numbers from references, cor- rected Data Requirements Description acronym, minor edits, etc. NASA EVM System Description ii ii TABLE OF CONTENTS P.1 Purpose ............................................................................................................ vi P.2 Applicability ..................................................................................................... vii P.3 Authority .......................................................................................................... vii P.4 References .....................................................................................................
    [Show full text]
  • The Relationship Between Customer Relationship Management Usage, Customer Satisfaction, and Revenue Robert Lee Simmons Walden University
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Walden University Walden University ScholarWorks Walden Dissertations and Doctoral Studies Walden Dissertations and Doctoral Studies Collection 2015 The Relationship Between Customer Relationship Management Usage, Customer Satisfaction, and Revenue Robert Lee Simmons Walden University Follow this and additional works at: https://scholarworks.waldenu.edu/dissertations Part of the Business Commons This Dissertation is brought to you for free and open access by the Walden Dissertations and Doctoral Studies Collection at ScholarWorks. It has been accepted for inclusion in Walden Dissertations and Doctoral Studies by an authorized administrator of ScholarWorks. For more information, please contact [email protected]. Walden University College of Management and Technology This is to certify that the doctoral study by Robert Simmons has been found to be complete and satisfactory in all respects, and that any and all revisions required by the review committee have been made. Review Committee Dr. Ronald McFarland, Committee Chairperson, Doctor of Business Administration Faculty Dr. Alexandre Lazo, Committee Member, Doctor of Business Administration Faculty Dr. William Stokes, University Reviewer, Doctor of Business Administration Faculty Chief Academic Officer Eric Riedel, Ph.D. Walden University 2015 Abstract The Relationship Between Customer Relationship Management Usage, Customer Satisfaction, and Revenue by Robert L. Simmons MS, California National University, 2010 BS, Excelsior College, 2003 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University September 2015 Abstract Given that analysts expect companies to invest $22 billion in Customer Relationship Management (CRM) systems by 2017, it is critical that leaders understand the impact of CRM on their bottom line.
    [Show full text]
  • E-Procurement in Accounting
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Clute Institute: Journals The Review Of Business Information Systems Volume 7, Number 1 E-Procurement In Accounting: A Macro Perspective Of Selection Techniques Saravanan Muthaiyah (E-Mail: saravanan.muthaiyah @ mmu.edu.my), Multimedia University, Malaysia Murali Raman (E-mail: murali.raman @ mmu.edu.my), Multimedia University, Malaysia Larry Lombard, Ph.D. (E-mail: [email protected]), Metropolitan State College of Denver Abstract Selecting an E-procurement accounting package is a complex process because of rapidly chang- ing technology and the variety of options proposed by software providers. There are many e- procurement packages available in the market, but most of these packages simply automate the ordering process. Using an integrated system to place orders over the Internet can save time, re- duce postage and paper cost. But without integrating e-procurement packages within a compa- ny’s finance and accounting systems, one of the largest opportunities for savings is missed out. To achieve full advantage of e-procurement, the procurement system must be integrated not only within the financial system but also with vendors and customers. There are two main categories of e-procurement solutions: 1) buy-side and 2) marketplace. While the full range of benefits might be better secured with buy-side procurement solutions, application costs make marketplace solutions more affordable. For smaller companies, costs of development of buy-side solutions will most often outweigh benefits and therefore marketplace solutions will be more suitable. For large businesses that choose buy-side solutions, careful evaluation is required in selecting the best software that can best suit the company requirements.
    [Show full text]
  • Section 6: Procurement and Accounts Payable Bus Area: Fiscal Year
    Internal Control Assessment Agency: Section 6: Procurement and Accounts Payable Bus Area: Fiscal Year: Question Yes No NA Comments Purchasing Overview 1 Are all state purchases made in accordance with state and federal laws and regulations, including directives of DFA, ITS, SPB, and PSCRB? 2 Are purchasing officers knowledgeable in federal and state purchasing laws and regulations? 3 Are the Executive Director and all purchasing officers aware of penalties associated with improper and fraudulent purchases? 4 Are purchasing officers encouraged to participate in the MS Association of Government Purchasing and Property Agents training? 5 Is procurement centralized within the agency, to the extent possible? 6 Are all employees aware of the Ethics in Public Contracting section of the DFA Office of Purchasing and Travel Procurement Manual? 7 Does the agency have procedures in place to prevent splitting of purchase orders to avoid solicitation of bids or advertising for bids? 8 Is documentation maintained to support compliance with state procurement regulations? 9 Are the duties of solicitations and evaluations of bids from contract awards segregated? Internal Control Assessment Agency: Section 6: Procurement and Accounts Payable Bus Area: Fiscal Year: Question Yes No NA Comments 10 Does sole source procurement documentation support the determination of sole source and the reasonableness of price? 11 Does management approve all sole source procurements? 12 Are vendors/sub recipients who are paid with federal funds cleared against the federal
    [Show full text]
  • Strategic Management Concepts
    File C6-39 June 2016 www.extension.iastate.edu/agdm Strategic Management Concepts lthough the term “strategic management” 5. Strategic management involves planning, is bantered around a lot in the business analyzing, and implementing a business Aworld, it is not understood very well by strategy. most people. Essentially strategic management 6. Strategic management is most effective if you answers the questions of “Where do you want your can step back far enough and say “all things business to go?” (goals), “How is your business are possible.” going to get there?” (strategy), and “How will you know when you get there?” (evaluation). 7. The essence of strategic management is matching business resources to market A strategic management analogy is taking a trip opportunities. during your vacation time. First you decide 8. Strategic management involves seeking and where you want to go - the natural beauty of identifying opportunities and threats in the Yellowstone or the bright lights of Las Vegas. Then market and industry as well as the outside you develop a strategy of how to get there - take world in general. an airplane (which flights), drive your car (which highways), etc. This will be influenced by the 9. Strategic management is based on the premise amount of money, time, and other resources you that “all businesses are not the same.” have available. Then you monitor your trip to see 10. Strategic management involves assessing the if your strategy takes you to your destination and strengths and weaknesses of your business. how your strategy worked (missed flights, poor 11. When assessing strengths and weaknesses, road conditions, etc.).
    [Show full text]