BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Strategic management is
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1. a process that requires the ability to manage change.
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2. the Process involves Understanding Strategy, Strategy Formulation, Strategy Implementation, Strategy
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3. the Process involves Understanding Strategy, Environmental & Internal Scanning Strategy Formulation, Strategy Implementation.
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1, 2, 3 are correct
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1, 3 are correct
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Explanation:
Detailed explanation-1: -The strategic-management process consists of three stages: strategy formulation, strategy implementation, and strategy evaluation.
Detailed explanation-2: -Strategic management involves providing the enterprise with an overall direction, setting organizational goals, developing policies and plans to achieve those goals, and allocating resources to implement the plans.
Detailed explanation-3: -Effective strategic planning is a process that should be broken down into three separate, equally important components: strategic thinking, long-range planning, and operational planning.
There is 1 question to complete.