Marketing Midterm Summary

What is the definition of a project?

Réponse: It is a unique venture with an established beginning and end, conducted by people to meet established goals within the parameters of cost, schedule, quality

What is the project's life cycle?

Réponse: consists out of four phases, conceptualising, planning, execution, and termination

What are the four determinants of a project's succes?

Réponse: Time, budget, performance, and client acceptance

A project can be called a succes internally but what determinant makes it a failure externally in the end?

Réponse: The acceptance of the client

What is strategic management?

Réponse: The science of formulating, implementing, and evaluating cross-functional decisions that enable a company to reach it's goals

Give the triangular form of the firm's strategic alignment.

Réponse: base: goals, strategy, program 2nd: objectives top: mission

Who are the stakeholders of a project?

Réponse: all individuals who have an active stake in the project and can impact its development.

Give Four examples of both internal stakeholders and external stakeholders.

Réponse: internal: top management, project team members, functional manager, accounting external: clients, competitors, intervenor groups, suppliers

Give block's framework for managing stakeholders.

Réponse: 1: asses environment 2: identify the goals of the principal actors 3: asses your capabilities 4: define the problem 5: develop solution 6: try and refine the solution

Give the three elements of an organisational structure.

Réponse: formal reporting, departmentalisation, cross-functional communication and coordination