Strategic Management Lesson 1: Overview
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Strategic Management Lesson 1: Overview

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Questions and Answers

From which two words is the term 'strategy' derived, as mentioned in the text?

Stratos and Ago

What is the meaning of strategy according to the text?

A long term plan of change and improvement for an organization

In military parlance, what does strategy mean?

The way an army moves and disposes forces in war

What level of management is responsible for devising a strategy?

<p>Top-level management</p> Signup and view all the answers

What is the primary goal of a company's strategy?

<p>To realize the company's vision and mission</p> Signup and view all the answers

What is the main focus of guerrilla marketing as per the text?

<p>Word-of-mouth distribution</p> Signup and view all the answers

What did Carl von Clausewitz believe strategy should be based on in chaotic situations?

<p>Flexible principles</p> Signup and view all the answers

According to Sun Tzu, which form of victory is the highest and most admirable?

<p>Conquering the enemy without resorting to war</p> Signup and view all the answers

According to Sun Tzu, what are the five essentials for victory?

<p>Who knows when to fight an.</p> Signup and view all the answers

What does Sun Tzu emphasize as imperative for conquering the business warfare?

<p>Knowing the internal and competitors' strengths and weaknesses</p> Signup and view all the answers

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