There are several activities that fall under strategic competence. Some examples include:
1. Developing and implementing the organization's strategic plan: This involves identifying the long-term goals and objectives of the organization, as well as the strategies and actions required to achieve them.
2. Conducting market research and analysis: This activity helps in understanding the market dynamics, customer needs and preferences, and competitive landscape. It enables the organization to identify potential opportunities and threats and make informed decisions.
3. Identifying and evaluating strategic alliances and partnerships: This involves identifying potential partners or alliances that can help the organization in achieving its strategic objectives. It also includes evaluating the benefits and risks associated with such partnerships.
4. Assessing and managing risks: Strategic competence also includes identifying and assessing potential risks and uncertainties that may impact the organization's ability to achieve its strategic objectives. It involves implementing risk management strategies and contingency plans to mitigate these risks.
5. Monitoring and evaluating performance: This activity involves regularly monitoring and evaluating the organization's performance against its strategic objectives. It includes setting key performance indicators (KPIs), tracking progress, and making necessary adjustments to ensure that the organization stays on track.
6. Making strategic decisions: Strategic competence also involves making critical decisions that align with the organization's long-term goals and objectives. This may include decisions related to resource allocation, product and service offerings, market entry or exit, etc.
Overall, strategic competence encompasses a range of activities that are critical for effective strategic management and organizational success.
Which activity that falls under strategic competence
1 answer