Podcast
Questions and Answers
Strategic management exclusively focuses on external opportunities and ignores internal capabilities.
Strategic management exclusively focuses on external opportunities and ignores internal capabilities.
False (B)
The initial step in the strategic management process is evaluating the success of action plans.
The initial step in the strategic management process is evaluating the success of action plans.
False (B)
Formulating action plans is a core component of the strategic management process.
Formulating action plans is a core component of the strategic management process.
True (A)
Strategic management solely involves top management without considering the organization's resources.
Strategic management solely involves top management without considering the organization's resources.
The effectiveness of deployed strategies in strategic management is evaluated only at the end of the process.
The effectiveness of deployed strategies in strategic management is evaluated only at the end of the process.
Flashcards
Strategic Management
Strategic Management
The process of setting goals and plans for an organization, considering internal and external factors.
Internal/External Analysis
Internal/External Analysis
Assessing a company's strengths, weaknesses, opportunities, and threats.
Action Plans
Action Plans
Detailed steps taken to achieve strategic goals.
Evaluation of Action Plans
Evaluation of Action Plans
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Cross-functional Decisions
Cross-functional Decisions
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