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Questions and Answers
What is the main focus of strategy formulation?
What is the main focus of strategy formulation?
- Understanding the past strategy decisions
- Selecting the best strategic options (correct)
- Evaluating current resources
- Implementing the formulated strategy
How is strategy implementation defined?
How is strategy implementation defined?
- Putting formulated strategy into practice (correct)
- Planning future strategies
- Analyzing past strategies
- Evaluating strategic options
Are strategy formulation and implementation seen as separate activities according to recent understanding?
Are strategy formulation and implementation seen as separate activities according to recent understanding?
- Yes, they are completely independent
- No, they are now considered as a single process (correct)
- They are irrelevant in strategic management
- Implementation precedes formulation
What is the recommendation regarding defining strategy formulation and implementation?
What is the recommendation regarding defining strategy formulation and implementation?
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How are the four main elements of strategic management related?
How are the four main elements of strategic management related?
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What term is used to refer to both strategy formulation and implementation as a single unit?
What term is used to refer to both strategy formulation and implementation as a single unit?
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