Management Questions

RUNNING HEADER: Management questions
Management
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RUNNING HEADER: Management questions
1. Strategic planning decisions and operational planning decisions
Strategic planning involves the firm's process of evaluating its strategy, direction and also
modifying various decisions on the distribution of available resources required in order to pursue
this particular strategy. Some of the key components that enhance this decision-making process
include vision, mission, and values of the entire organization (Cavusgil, Knight, & Riesenberger,
2013). Evidently, it's a systematic and comprehensive formal document procedure for making
vital decisions which a firm should acquire right so as to be successful and achieve goals in the
future.
1. Decisions on marketing research. This is to identify the presence of rivals or competitors
and the current nature of the existing target market
2. Decisions to carry out a feasibility study on the retailer
3. Decisions on the cost-benefit analysis of a retailer's project to identify which project will
bring out maximum benefits to the retailer. For instance, if the retailer purchases a new
type of product which is much expensive and do not result in optimum benefits over
other products of advanced quality and technology.
Operational planning decisions are defined as a short-term and extremely detailed plan that is
designed by the management of an organization in order to reach tactical goals.
Evidently, the time frame of the decisions is the distinctive feature differentiating the two types
of decisions among process (Christopher, & Holweg, 2011).
It includes;
1. The input of various retail departments
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RUNNING HEADER: Management questions
2. Contribution ratio analysis to decide which process are significant to maximize
profitability
3. Identify financial position in case the retail is making losses and has weakness.
2. Push/pull boundary in the supply chain
This exists in locations where the demand curve moves from being reactive to a speculative
production process. For instance, in various bookstore retails, the boundary is located between
the client order cycle and the existing replenishment section. It is located in the stock holding
Activities taking place are;
 Avoiding the incurred cost of carrying inventory which might not result in sales in the
long run
 Market share influenced by various external forces
 Logistics
 Development activities
 Distribution
 Customers marketing the firm for the owner
3. How companies should prepare for globalization in terms of responsiveness
Firms should be well prepared when entering in international markets in order to take the golden
chance of acquiring cheaper suppliers and optimum control of the market share. Globalization, as
a dynamic tool comes with various risks that should be expected hence the ultimate need to
devise the following strategies to maintain competitiveness ability of the globalization forces;
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