BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Environmental scanning
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Strategies
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Long-term objectives
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Policies
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Detailed explanation-1: -Strategies can be defined as specific results that an organization seeks to achieve in pursuing its basic mission. False Strategies are the means by which long-term objectives will be achieved.
Detailed explanation-2: -The answer is C) objectives. Objectives are the aims of an organization and they are born out of the mission statement. See full answer below.
Detailed explanation-3: -CEO and Executive Team The executive team is responsible for: Mission, Vision, & Guiding Principles – These are the core foundational elements to your plan that tell your organization who you are, where you’re going, and how you’re going to operate.
Detailed explanation-4: -Mission is a general statement of how you will achieve your vision. Strategies are a series of ways of using the mission to achieve the vision. Goals are statements of what needs to be accomplished to implement the strategy. Objectives are specific actions and timelines for achieving the goal.
Detailed explanation-5: -Strategies are the means by which long term objectives will be achieved.