BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
vision
|
|
|
objectives
|
|
|
mision
|
|
|
none of the above
|
Detailed explanation-1: -Objectives are different from goals, in that they are micro and specific in perspective. They should possess the following characteristics: 1. Objectives need to be clearly defined and formulated, carefully chosen, specific, and definite.
Detailed explanation-2: -Strategic goals are the specific financial and non-financial objectives and results a company aims to achieve over a specific period of time, usually the next three to five years.
Detailed explanation-3: -Strategic planning is a process in which an organization’s leaders define their vision for the future and identify their organization’s goals and objectives. The process includes establishing the sequence in which those goals should be realized so that the organization can reach its stated vision.
Detailed explanation-4: -Characteristics of Strategic Management Handles long-term issues. Offers competitive advantage. Future-oriented. Long-term implications.
Detailed explanation-5: -A strategic goal is a broad, long-term objective that a company strives to achieve. It can be something as general as becoming the top player in your industry or as specific as increasing market share by 20%.