Strategic Management Quiz

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Immediate direction and resource allocation for organizational advantage
Long term direction and resource allocation for organizational advantage
Short term direction and resources configuration for organizational advantage
Long term direction and resources configuration for organizational advantage (correct)

<p>Establishment of objectives and formulation of policies, strategies, and tactics (D)</p> Signup and view all the answers

<p>Affects the whole scope of organizational activities (A)</p> Signup and view all the answers

It involves setting the long-term direction and configuring resources to gain an advantage for the organization.

Strategic management aims to align internal activities with available resources and competencies to achieve organizational goals.

It focuses on determining the types of businesses an organization should be involved in, shaping the overall company portfolio.

It is primarily focused on setting objectives and creating policies, strategies, and tactics to achieve those objectives.

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It influences and shapes all aspects of an organization's activities, ensuring alignment with strategic goals.

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The scope of strategic management encompasses the entire organization and its environment, involving the formulation, implementation, and evaluation of strategies to achieve organizational goals.

Strategic management seeks to match the organization's mission, objectives, and goals with its available resources and competencies.

Corporate strategy concerns the overall purpose and scope of an organization, its configuration, and the allocation of resources to achieve its goals.

The primary focus of strategic planning is to position the organization to take advantage of opportunities and overcome threats in its environment.

Strategic management is characterized by its integrated and holistic approach, cutting across various organizational activities and functions to achieve a common goal.