BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -An organizational strategy is a long-term plan that allocates how a company plans to use its resources to support business activities. It serves as guidance for how a company can achieve its objectives. Companies use these strategies to help them meet their goals and develop strategic plans.
Detailed explanation-2: -Unique is defined as ‘of which there is only one, unequaled, having no like or equal. ‘ In many industries it is difficult to develop a unique strategy that is truly different from competitors as many of them basically sell the same type of products and services.
Detailed explanation-3: -Strategic planning value Communicate clarity of direction throughout the organization. Provide clear direction and thereby restore integrity of leadership. Solve key performance problems. Develop a path forward that will attract outside funding.