Strategic Management Concepts Quiz
5 Questions
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Strategic Management Concepts Quiz

Created by
@RealisticRainforest

Questions and Answers

What are the benefits of strategic management?

  • Brand recognition, social responsibility, and technology adoption
  • Market expansion, product diversification, and increased competition
  • Improved decision-making, enhanced organizational performance, and increased profitability (correct)
  • Cost reduction, employee satisfaction, and customer loyalty
  • How does globalization influence strategic management?

  • By reducing the need for international partnerships
  • By increasing market opportunities and competition (correct)
  • By standardizing business practices globally
  • By limiting access to foreign markets
  • What do learning organizations excel at?

  • Adapting to change and fostering innovation (correct)
  • Avoiding risk and uncertainty
  • Maintaining traditional practices and resisting change
  • Following hierarchical structures and rigid processes
  • What are some common triggering events for strategic change?

    <p>Technological advancements, market shifts, and regulatory changes</p> Signup and view all the answers

    What is the basic model of strategic management and its components?

    <p>Environmental scanning, strategy formulation, strategy implementation, and evaluation and control</p> Signup and view all the answers

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