6 Questions
What is the main focus of strategy formulation?
Selecting the best strategic options
How is strategy implementation defined?
Putting formulated strategy into practice
Are strategy formulation and implementation seen as separate activities according to recent understanding?
No, they are now considered as a single process
What is the recommendation regarding defining strategy formulation and implementation?
They should not be defined alone or separated from each other
How are the four main elements of strategic management related?
They are interdependent and dynamic
What term is used to refer to both strategy formulation and implementation as a single unit?
Strategy formation
Test your knowledge on strategy formulation and implementation, including understanding the underlying bases for future strategy, generating strategic options, and putting formulated strategies into action. This quiz covers concepts from Johnson, Scholes, and Whittington's 2008 framework as well as Alexander's 1991 insights.
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