Session:9 The Strategic Management Process: Achieving and Sustaining Competitive Advantage
Managerial Decision Exercises
Principles of Management | Leadership Development – Micro-Learning Session
Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-management
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Each of the following statements is a goal or objective, but it is not expressed very clearly. Rewrite each statement as a SMART goal, and be ready to explain what you had to change to make it SMART.
- Amazon wants to improve product delivery times.
- Starbucks baristas should make customized drinks more quickly.
- Sales associates should sell more cars this month.
- McDonald’s needs more customers at dinnertime.
- FedEx wants to compete with UPS.
- Boxed wants to reach more customers.
- Lyft wants to increase revenue.
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Entrepreneurs must be strategic thinkers in order to develop the plans and objectives necessary to start a business that will last. Imagine you are starting a new music-streaming service. You have decided to differentiate your service from the others already in the marketplace. Think of three ways to add value to your service and also the performance measures you’ll need to use in order to know if your added value is really valued by customers.