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Questions and Answers
What does strategic management involve?
What does strategic management involve?
- Short-term resource allocation only
- Formulation and implementation of major goals and initiatives (correct)
- Daily operational decision-making
- Exclusively internal environment assessment
What is the nature of strategic management?
What is the nature of strategic management?
- Predictable, with no need for monitoring
- Static, with fixed models
- Reactive, with no room for adjustments
- Dynamic, with models including a feedback loop (correct)
According to Michael Porter, what are the three principles underlying strategy?
According to Michael Porter, what are the three principles underlying strategy?
- Creating a unique and valuable market position, making trade-offs, creating fit (correct)
- Investing in technology, outsourcing, downsizing
- Following competitors, avoiding risks, diversifying products
- Maximizing profits, minimizing costs, expanding market share
What does corporate strategy aim to answer?
What does corporate strategy aim to answer?
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What does business strategy aim to answer?
What does business strategy aim to answer?
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