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Questions and Answers
What does strategic management provide to an enterprise?
What does strategic management provide to an enterprise?
- Strict operational rules
- Micro-level guidance
- Overall direction (correct)
- Limited resource allocation
What does strategic management involve?
What does strategic management involve?
- Day-to-day operational decision-making
- Short-term goal setting only
- Exclusively internal assessment
- Formulation and implementation of major goals and initiatives (correct)
What is a key aspect of strategic decision-making?
What is a key aspect of strategic decision-making?
- Avoiding feedback loops
- Ignoring external environments
- Consideration of complex environments and competitive dynamics (correct)
- Relying solely on historical data
What is a principle underlying strategy according to Michael Porter?
What is a principle underlying strategy according to Michael Porter?
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Why is strategic management not static in nature?
Why is strategic management not static in nature?
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