Podcast
Questions and Answers
What process involves formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives?
What process involves formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives?
- Operations Management
- Financial Management
- Project Management
- Strategic Management (correct)
Which aspect of strategic management focuses on putting strategies into action?
Which aspect of strategic management focuses on putting strategies into action?
- Strategy Implementation (correct)
- Strategic Analysis
- Strategy Formulation
- Strategy Evaluation
What is the first step in the strategic management process?
What is the first step in the strategic management process?
- Strategy Implementation
- Strategy Evaluation
- Objective Setting (correct)
- Strategy Formulation
What term describes decisions that involve multiple areas within an organization?
What term describes decisions that involve multiple areas within an organization?
In strategic management, what does 'evaluating' decisions primarily involve?
In strategic management, what does 'evaluating' decisions primarily involve?
The ultimate goal of Strategic management is to help organizations achieve their:
The ultimate goal of Strategic management is to help organizations achieve their:
Which of the following is NOT a phase of strategic management?
Which of the following is NOT a phase of strategic management?
Strategic management can best be described as:
Strategic management can best be described as:
When are cross-functional decisions typically made?
When are cross-functional decisions typically made?
Which type of decision making is a key component of the strategic planning process?
Which type of decision making is a key component of the strategic planning process?
Flashcards
Strategic Management
Strategic Management
The art and science of formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives.
Study Notes
- Strategic management is both an art and a science.
- It involves formulating strategies.
- It involves implementing strategies.
- It involves evaluating strategies.
- Strategic management focuses on cross-functional decisions.
- The goal of strategic management is to enable an organization to achieve its objectives.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
