If the brokerage is to take advantage of an opportunity presented itself as a result of
the external scan it must ensure it has or can acquire the internal capability to do so.
Briefly explain the best approach for a brokerage to take in an attempt to achieve an
unbiased and realistic internal assessment.
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The best approach to take to achieve an unbiased and realistic internal
assessment is to assume the position of client and assess the brokerage
from the viewpoint of an outsider. Assessing the brokerage as others see it
is the key to obtaining meaningful information
This will...
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, • Facilitate allocation of resources
• Ensure they provide clear direction to employees
• Help bridge the transition from the broad based conceptual mission to
the more specific objectives, goals and budget
Identify a disadvantage of the top-down approach.
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The lack of buy-in by employees, who had no part in developing the plan.
It is "managements" plan, not theirs.
Identify the two basic questions that should be answered by the brokerage that would
be beneficial in constructing its mission statement
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1. What is the organizations purpose of existence
2. What is the organizations long-term direction and point of reference for
all employees of the brokerage
Briefly explain the bottom-up approach.
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, The management still provides the mission and broad strategies, but leaves
the development of objectives, goals and activities to the individual
business units.
Strategic planning is the process of formulating the brokerages vision, value,
statements, mission, strategies, objectives and goals. Identify the seven major
components of, or steps to, developing a strategic plan
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1. Scanning the external environment
2. Analyzing the internal environment and assessing the current position
3. Matching strengths and weaknesses to the opportunities and threats
4. Defining a corporate focus
5. Developing strategies
6. Developing objectives
7. Setting goals
Management must be fully aware of
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The strengths and weaknesses of the brokerage and the opportunities and
threats facing it
Identify the three basic questions that should be answered by the brokerage that will
be beneficial in constructing it's value statement
Give this one a try later!
the external scan it must ensure it has or can acquire the internal capability to do so.
Briefly explain the best approach for a brokerage to take in an attempt to achieve an
unbiased and realistic internal assessment.
Give this one a try later!
The best approach to take to achieve an unbiased and realistic internal
assessment is to assume the position of client and assess the brokerage
from the viewpoint of an outsider. Assessing the brokerage as others see it
is the key to obtaining meaningful information
This will...
Give this one a try later!
, • Facilitate allocation of resources
• Ensure they provide clear direction to employees
• Help bridge the transition from the broad based conceptual mission to
the more specific objectives, goals and budget
Identify a disadvantage of the top-down approach.
Give this one a try later!
The lack of buy-in by employees, who had no part in developing the plan.
It is "managements" plan, not theirs.
Identify the two basic questions that should be answered by the brokerage that would
be beneficial in constructing its mission statement
Give this one a try later!
1. What is the organizations purpose of existence
2. What is the organizations long-term direction and point of reference for
all employees of the brokerage
Briefly explain the bottom-up approach.
Give this one a try later!
, The management still provides the mission and broad strategies, but leaves
the development of objectives, goals and activities to the individual
business units.
Strategic planning is the process of formulating the brokerages vision, value,
statements, mission, strategies, objectives and goals. Identify the seven major
components of, or steps to, developing a strategic plan
Give this one a try later!
1. Scanning the external environment
2. Analyzing the internal environment and assessing the current position
3. Matching strengths and weaknesses to the opportunities and threats
4. Defining a corporate focus
5. Developing strategies
6. Developing objectives
7. Setting goals
Management must be fully aware of
Give this one a try later!
The strengths and weaknesses of the brokerage and the opportunities and
threats facing it
Identify the three basic questions that should be answered by the brokerage that will
be beneficial in constructing it's value statement
Give this one a try later!
