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Questions and Answers
Which of the following best describes strategic management?
Which of the following best describes strategic management?
- A process of implementing strategies
- A process of creating strategies
- A process of analyzing internal and external environments (correct)
- A process of establishing strategic direction
Where did the traditional perspective on strategic management originate from?
Where did the traditional perspective on strategic management originate from?
- Economics
- Consulting firms
- Business disciplines
- All of the above (correct)
According to the traditional perspective, a firm is viewed as:
According to the traditional perspective, a firm is viewed as:
- A political entity
- A social entity
- An economic entity (correct)
- A cultural entity
What is the approach to strategy formulation in the traditional perspective?
What is the approach to strategy formulation in the traditional perspective?
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What is the source of competitive advantage according to the traditional perspective?
What is the source of competitive advantage according to the traditional perspective?
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