Internal Forces in Strategic Management Quiz
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Questions and Answers

What is the purpose of a complete internal assessment in strategic planning?

  • To focus solely on marketing and advertising strategies
  • To help a firm formulate, implement, and evaluate strategies for gaining and sustaining competitive advantages (correct)
  • To streamline the production and operations processes
  • To identify external market opportunities and threats

    • In addition to marketing, finance, accounting, and management, what are some subareas mentioned in the text?

  • Sales, promotions, public relations, and branding
  • Customer service, warranties, advertising, packaging, and pricing (correct)
  • Supply chain management, logistics, inventory control, and vendor management
  • Market research, product development, distribution, and sales forecasting

    • What are examples of functional areas in a hospital mentioned in the text?

  • Cardiology, hematology, nursing, maintenance, physician support, and receivables (correct)
  • Outpatient services, inpatient services, intensive care, diagnostics, and therapy
  • Pharmacy, laboratory, patient care, administration, and billing
  • Orthopedics, pediatrics, radiology, surgery, and emergency care

    • What is emphasized as vital for different types of organizations to include in their strategic planning?

    <p>A detailed assessment of how the firm is doing in all internal areas</p> Signup and view all the answers

    What is the main focus of strategic planning according to the text?

    <p>Assessment of how the firm is doing in all internal areas</p> Signup and view all the answers

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