Mastering Strategic Management

External environment (Opportunities and Threats) and Internal environment (Strengths and Weaknesses)

Strategy formulation is the development of long-range plans for the effective management of environmental opportunities and threats.

Strategic decisions are decisions that deal with the long-run future of an entire organization and are rare, consequential, and directive.

<p>The adaptive mode is a decision-making mode characterized by reactive solutions to existing problems, rather than a proactive search for new opportunities.</p> Signup and view all the answers

<p>Stakeholder analysis is the identification and evaluation of corporate stakeholders.</p> Signup and view all the answers