Introduction to Strategic Management

It has no significant role in business strategy development.

It limits the scope of strategic management.

It formulates Vision, Mission, Goals, and Values. (correct)

It focuses on short-term planning only.

Strategy is not the consequence of planning; it's the starting point. (correct)

Planning is the primary driver of strategic decisions.

Strategy is solely derived from detailed planning processes.

Planning and strategy are interchangeable concepts.

Strategic management has no impact on a company's decision-making.

Having no strategy allows a company to be more adaptable.

A company without a strategy follows a highly structured approach.

A company without a clear strategy lacks direction and purpose. (correct)

<p>Not all decisions need to be strategic.</p> Signup and view all the answers

<p>Formulating and implementing strategic decisions and behaviors within a firm.</p> Signup and view all the answers