7 Questions
What are the three aspects of strategic management?
Process, content, and context
Which school of thought assumes strategy is a conceptual process and a deliberate process of conscious thought?
Design school
Who is responsible for strategy according to the design school?
The CEO
Which school of thought assumes strategy is a formal process and a deliberate process of conscious formal planning?
Planning school
What are the two views on process strategy?
Strategic planning and strategic decision-making
What is the focus of the process school of thought?
The people of the firm
Which school of thought is descriptive rather than prescriptive?
Process school
Study Notes
- Strategic management has three aspects: process, content, and context
- Standard model of strategy consists of four prescriptive schools of thought: design, planning, positioning, and resource-based; and one descriptive school of thought: process
- The design school assumes strategy is a conceptual process and is a deliberate process of conscious thought
- The CEO is responsible for strategy, and the strategy model must be simple and informal
- The process school assumes strategy is a formal process and is a deliberate process of conscious formal planning, decomposed into distinct steps
- There are two views on process strategy: strategic planning and strategic decision-making
- The focus of the process school is more on people than on the situation of the firm.
Test your knowledge on strategic management with this informative quiz! From understanding the three aspects of strategic management to exploring the standard model of strategy, this quiz covers it all. Challenge yourself to differentiate between the design and process schools of thought and learn about the different views on process strategy. Sharpen your skills in identifying the responsibilities of a CEO and the importance of having a simple and informal strategy model. Unleash your strategic thinking and take this quiz now!
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