BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A company’s strategic plan:
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maps out the company’s history.
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links the company’s financial targets to control mechanisms.
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outlines the competitive moves and approaches to be used in achieving the desired business results.
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all of these.
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Explanation:
Detailed explanation-1: -A company’s strategic plan: outlines the competitive moves and approaches to be used in achieving the desired business results.
Detailed explanation-2: -A strategic plan for a business will include the company’s mission and vision statement, as well as its goals and objectives and the action plans to achieve them. The strategic plan is different from a business plan.
Detailed explanation-3: -There are five essential tasks of strategic management. They include developing a strategic vision and mission, setting objectives, crafting tactics to achieve those objectives, implementing and executing the tactics, and evaluating and measuring performance.
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