Strategic Management Model and Business Strategy Quiz

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What is hyper competition characterized by?

Intense and rapid competitive moves

What does strategic management involve?

Strategic analysis, decision making, formulation, implementation, and control

What is organizational competitiveness?

Ability of a business to utilize its resources optimally and sustainably for maximum performance and productivity

What is strategic performance characterized by?

Efficiency in the context of lean and quantifiable management Signup and view all the answers

What are the components of the strategic management process?

Strategic analysis, decision making, formulation, implementation, and control Signup and view all the answers

What are the three big strategic questions according to the strategic management model?

Where are we now, where do we want to go, and how do we get there. Signup and view all the answers

What does strategy consist of, according to the text?

The set of competitive moves and business approaches that management is employing to run the company. Signup and view all the answers

What is the equation presented for good management in the strategic management model?

Good strategy + good strategy execution = good management. Signup and view all the answers

What is strategy's game plan focused on achieving?

Attracting customers, staking out a market position, conducting operations, competing successfully, and achieving organizational objectives. Signup and view all the answers

What is the mission of Disney, as mentioned in the text?

To entertain, inform, and inspire people around the globe through the power of unparalleled storytelling, reflecting iconic brands, creative minds, and innovative technologies. Signup and view all the answers

The strategic management model identifies concepts of strategy and the elements necessary for the development of a ______ enabling the organization to satisfy its mission

strategy Signup and view all the answers

Strategy is management’s game plan to attract ______

customers Signup and view all the answers

Good strategy + good strategy execution = good ______

management Signup and view all the answers

To entertain, inform, and inspire people around the globe through the power of unparalleled storytelling, reflecting the iconic brands, creative minds, and innovative technologies that make ours the world’s premier entertainment ______

company Signup and view all the answers

The process by which firms continually dynamism are born, fail, expand, and contract, as some jobs are created, others are destroyed, and others still are turned ______

over Signup and view all the answers

Hyper competition is “an environment characterized by intense and rapid competitive moves, in which competitors must move quickly to build new advantages and ______ erode the advantages of their rivals.”

simultaneously Signup and view all the answers

Situation where both globalization and technology collaborate to create a heightened cut throat competition. Why the environment is considered dynamic: Continuous process of strategy creation. It Strategic management involves strategic process like: strategic analysis and decision making, strategy formulation and implementation, strategy ______.

control Signup and view all the answers

Organizational Input - Management/ Employees - Financial Resources - Facilities Equipment - Infrastructures - Processes. Strategic Management process - Strategic analysis - Stratgeic decision making - Strategy formulation - Stratgey implementation - Strategic ______.

control Signup and view all the answers

Strategic Management Model Organizational success - Strategic intelligence - Strategic thinking thinking - Organizational competitiveness - Comparative advantage - Strategic ______.

performance Signup and view all the answers

When does an organization enjoy competitiveness . Strategic planning a continuous repetitive and ______.

competitive Signup and view all the answers