5 Questions
What is the primary focus of strategic management?
Determining the long-run performance of a corporation
In which phase of strategic management does externally oriented strategic planning occur?
Phase 3
What does a company's strategy primarily aim to achieve?
Outperform competitors and achieve superior profitability
What does strategy involve?
Choosing how to compete, creating products or services, positioning the company, and developing resources
What distinguishes strategic management from basic financial planning?
Long-term focus on performance
Test your knowledge of the background, history, and key elements of strategic management with this quiz. Explore the strategic management process, model, and basic elements such as vision, mission, objective, strategy, and policy.
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