Cima E3 Exam Question No 19

Question No 19:

What is Mission statements Definition?

A mission statement describes in writing the basic purpose of an organization and what it is trying to accomplish. A mission statement is a brief description of an organizations fundamental purpose.

Cima E3 Exam Question No 18

Question No 18:

Mendelow's stakeholder mapping model Definition?

Mendelows matrix is a way of prioritizing stakeholders by 'subjective' mapping of them, in order to understand and resolve any issues or conflicts that may exist. This model priorities by mapping which stakeholders should more likely considered and therefore 'satisfied' by the organization.
· Power e.g. bargaining power, right or ability to exert influence over the organizations strategic aims and the general way it conducts itself.
· Interest e.g. interest in the activities or conduct of the organization for varied reasons.

Cima E3 Exam Question No 17

Question No 17:

What are the Comparing and contrasting RBV to the Positioning Approach Differences?

Resource Based View (RBV)
 · Resource based approach
· Inside out e.g. key internal resources for achieving success.
· Organization focuses on what it does best e.g. 'stick to knitting'.
· Emphasis on internal appraisal e.g. unique assets or core competences.
· Higher cost and time to exploit but long-term advantage.
Differences
 · Market based approach
· Outside in e.g. best external opportunities to exploit.
· Organization focuses on diversity and innovation.
· Emphasis on external environment e.g. competition and customers
· Less costly to exploit but short term advantage gained.

Cima E3 Exam Question No 16:

Question No 16:

What is Comparing and contrasting RBV to the Positioning Approach Similarities?

· Both ideas stem from the rational planning process.
· Both can use centralised (rational planning) or decentralised (emergent)
approaches.
· Both aim to achieve competitive advantage e.g. ways to compete with rivals.