BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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strategic implementation
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strategic analysis
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strategic management
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none of the above
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Detailed explanation-1: -According to David and David (2015: 39) Strategic management can be defined as the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives.
Detailed explanation-2: -involving people or departments who do different types of work for the same company: Most corporations understand the need to use cross-functional teams for developing new technologies and products.
Detailed explanation-3: -The correct answer is D) Strategic management. Reason: Strategic management is considered as both an art or science for developing, implementing, and evaluating the decisions that support a business firm to attain its long horizon objectives.
Detailed explanation-4: -Strategic management involves making decisions and taking actions that can help organisations achieve their objectives by adopting a systematic way of formulating the strategy, implementing the strategy, and evaluating and controlling the strategy implemented.