Mastering Strategic Management
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Questions and Answers

Which of the following is NOT a stage of strategic management?

  • Strategy evaluation
  • Strategy formulation
  • Operational management (correct)
  • Strategy implementation

    • What is the main focus of strategic management?

  • Operational management
  • Financial management
  • Long-term organizational goals (correct)
  • Human resource management

    • What are the benefits of engaging in strategic management?

  • Higher employee turnover
  • Improved decision-making (correct)
  • Increased operational inefficiencies
  • Decreased competitive advantage

    • Why do some firms not engage in strategic planning?

    <p>Lack of awareness about strategic management</p> Signup and view all the answers

    What are the pitfalls in strategic planning?

    <p>Lack of alignment with organizational goals</p> Signup and view all the answers

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