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Questions and Answers
What encompasses the study of Strategic Management?
What encompasses the study of Strategic Management?
- Strategy formulation, implementation, and evaluation (correct)
- Vision and mission setting
- Only environmental scanning
- Just the establishment of strategic intent
Which phase involves devising the strategy or few strategies?
Which phase involves devising the strategy or few strategies?
- Formulation of Strategy (correct)
- Implementation of Strategy
- Strategic Evaluation
- Establishment of Strategic Intent
What is the role of Strategic Management in shaping the future of a business?
What is the role of Strategic Management in shaping the future of a business?
- Ensuring short-term profits
- Focusing on day-to-day operations
- Centralized management
- Decentralized management (correct)
Which aspect is NOT included in the 4 Phases of Strategic Management?
Which aspect is NOT included in the 4 Phases of Strategic Management?
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What emphasizes monitoring external opportunities and threats in light of strengths and weaknesses?
What emphasizes monitoring external opportunities and threats in light of strengths and weaknesses?
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What defines Strategic Management as a dynamic process?
What defines Strategic Management as a dynamic process?
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