6 Questions
What is the prime task of strategic management according to Peter Drucker?
Thinking through the overall mission of a business
What do vision and mission statements aim to answer?
What do we want to become?
Which of the following is NOT one of the three main stages of strategic management?
Resource allocation
What do internal strengths and weaknesses refer to according to the text?
Controllable activities performed well or poorly
What is the purpose of annual objectives in strategic management?
To serve as short-term milestones for achieving strategies
According to Edward Deming, what is essential for strategic management?
Relying on data and evidence
Test your knowledge of the basic concepts of strategic management including strategy formulation, implementation, and evaluation. Learn about developing vision, setting objectives, policies, and motivating employees in the strategic management process.
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