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What is a competitive advantage in the context of strategic management?
What is a competitive advantage in the context of strategic management?
- The location of a firm's headquarters
- The financial resources possessed by a firm
- Anything that a firm does especially well compared to rival firms (correct)
- The number of employees working in a firm
Who are the strategists in an organization?
Who are the strategists in an organization?
- The newly hired employees
- The external consultants working with the organization
- The individuals who are most responsible for the success or failure of an organization (correct)
- The middle management of the organization
What does a vision statement in strategic management answer?
What does a vision statement in strategic management answer?
- The question 'How much profit do we want to make.'
- The question 'What are our competitors' strengths.'
- The question 'What do we want to become.' (correct)
- The question 'What are our short-term goals.'
What do long-term objectives refer to in strategic management?
What do long-term objectives refer to in strategic management?
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What are annual (short-term) objectives in strategic management?
What are annual (short-term) objectives in strategic management?
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