5 Questions
What are the two components of the external and internal environment?
External environment (Opportunities and Threats) and Internal environment (Strengths and Weaknesses)
What is strategy formulation?
Strategy formulation is the development of long-range plans for the effective management of environmental opportunities and threats.
What are strategic decisions?
Strategic decisions are decisions that deal with the long-run future of an entire organization and are rare, consequential, and directive.
What is the adaptive mode?
The adaptive mode is a decision-making mode characterized by reactive solutions to existing problems, rather than a proactive search for new opportunities.
What is stakeholder analysis?
Stakeholder analysis is the identification and evaluation of corporate stakeholders.
Test your knowledge on strategic management with this quiz! Explore the concepts of external and internal environments, strategy formulation, and development of long-range plans. Identify strengths, weaknesses, opportunities, and threats to enhance your understanding of effective management strategies.
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