BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Firms use three major models to help develop their vision and mission when choosing one or more strategies in pursuit of strategic competitiveness and above-average returns.
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True
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False
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Explanation:
Detailed explanation-1: -Strategic management is a combination of three main processes which are as follows: Performing a situation analysis, self-evaluation and competitor analysis: both internal and external; both micro-environmental and macro-environmental.
Detailed explanation-2: -There are three main types of sustainable competitive advantage: differentiation, cost leadership, and focus advantage.
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