BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
____ is ways for businesses to build strategies that help the company respond quickly to new challenges
|
|
strategic management
|
|
|
strategic management process
|
|
|
Mission statement
|
|
|
Vision statement
|
Explanation:
Detailed explanation-1: -The four phases of strategic management are formulation, implementation, evaluation and modification.
Detailed explanation-2: -The five stages of the process are goal-setting, analysis, strategy formation, strategy implementation and strategy monitoring.
Detailed explanation-3: -So, what is strategic management process? Strategic management process is a continuous culture of appraisal that a business adopts to outdo the competitors. Simple as it may sound, this is a complex process that also covers formulating the organization’s overall vision for present and future objectives.
There is 1 question to complete.