Solution to IT 430 (E.Commerce)

Answer:

Yes, I agree with the statement” In strategy assessment phase, you can learn from your mistakes and do your future planning”. In case your EC project has been a failure, you can identity the problems and try to remove them. Some of the corrective measures can be to property train your web team, establish or review your security or privacy policy, review or reassess your web design content, reconsider your marketing plan etc. For the strategy assessment, you can conduct surveys, collect information and receive feedback from different groups of people so that you have solid input from people coming from a variety of background. Sometimes, you have to entirety give up a particular strategy you followed and formulate a new strategy or set of strategies in light of the company’s main objective or its mission.
Strategic planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. Various business analysis techniques can be used in strategic planning, including SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats ) and PEST analysis(Political, Economic, Social, and Technological analysis) or STEER analysis (Socio-cultural, Technological, Economic, Ecological, and Regulatory factors) and EPISTEL (Environment, Political, Informatic, Social, Technological, Economic and Legal)
Strategic planning is the formal consideration of an organization's future course. All strategic planning deals with at least one of three key questions:
"What do we do?"
"For whom do we do it?"
"How do we excel?"
In business strategic planning, the third question is better phrased "How can we beat or avoid competition?".
In many organizations, this is viewed as a process for determining where an organization is going over the next year or more -typically 3 to 5 years, although some extend their vision to 20 years
In order to determine where it is going, the organization needs to know exactly where it stands, then determine where it wants to go and how it will get there. The resulting document is called the "strategic plan".It is also true that strategic planning may be a tool for effectively plotting the direction of a company; however, strategic planning itself cannot foretell exactly how the market will evolve and what issues will surface in the coming days in order to plan your organizational strategy. Therefore, strategic innovation and tinkering with the 'strategic plan' have to be a cornerstone strategy for an organization to survive the turbulent business climate. The focus of a strategic plan is usually on the entire organization, while the focus of a business plan is usually on a particular product, service or program.
There are a variety of perspectives, models and approaches used in strategic planning. The way that a strategic plan is developed depends on the nature of the organization's leadership, culture of the organization, complexity of the organization's environment, size of the organization, expertise of planners, etc. For example, there are a variety of strategic planning models, including goals-based, issues-based, organic, scenario (some would assert that scenario planning is more a technique than model), etc. Goals-based planning is probably the most common and starts with focus on the organization's mission (and vision and/or values), goals to work toward the mission, strategies to achieve the goals, and action planning (who will do what and by when). Issues-based strategic planning often starts by examining issues facing the organization, strategies to address those issues, and action plans. Organic strategic planning might start by articulating the organization's vision and values and then action plans to achieve the vision while adhering to those values. Some planners prefer a particular approach to planning, eg, appreciative inquiry. Some plans are scoped to one year, many to three years, and some to five to ten years into the future. Some plans include only top-level information and no action plans. Some plans are five to eight pages long, while others can be considerably longer.

Solution to STA 630 (Research Meathods)

Question No. Correct Option

1 D
2 A
3 A
4 D
5 C
6 B
7 D
8 B
9 D
10 A
11 A
12 C
13 A
14 A
15 C
16 D
17 C
18 C
19 C
20 B

Solution to MGT 201 (F.M)

1 C
2 C
3 C
4 B
5 B
6 B
7 B
8 B
9 C
10 A
11 D
12 D
13 C
14 B
15 C
16 D
17 B
18 D
19 D
20 C