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Questions and Answers
What does strategic management involve?
What does strategic management involve?
- Developing the firm’s vision and mission, and tactical analysis
- Developing the firm’s vision and mission, strategic analysis, and measuring performance (correct)
- Choosing and implementing strategies, and evaluating performance
- Creating objectives, and responding to external forces
In the context of business, what does the term 'strategy' seek to relate?
In the context of business, what does the term 'strategy' seek to relate?
- Goals to means of achieving them (correct)
- Goals to resources
- Goals to customer satisfaction
- Goals to organizational structure
What does the term 'strategy' imply for corporate functioning?
What does the term 'strategy' imply for corporate functioning?
- Immediate response to changes in the environment
- Short-term planning
- Ad hoc decision making
- Unified design and action for achieving major goals (correct)
How can strategy be defined based on the text?
How can strategy be defined based on the text?
What are the three levels at which strategies are formulated in large organisations?
What are the three levels at which strategies are formulated in large organisations?
What do corporate strategies include according to the text?
What do corporate strategies include according to the text?
What is the nature of a company's strategy based on the text?
What is the nature of a company's strategy based on the text?
How does a company cope with the uncertain business environment according to the text?
How does a company cope with the uncertain business environment according to the text?
What is the primary responsibility of corporate-level managers?
What is the primary responsibility of corporate-level managers?
What is the strategic role of business-level managers?
What is the strategic role of business-level managers?
What is the responsibility of the CEO, according to the passage?
What is the responsibility of the CEO, according to the passage?
What defines a strategic business unit, as per the text?
What defines a strategic business unit, as per the text?
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