BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
including multiple stakeholder interests in decision making
|
|
|
incorporating both short-term and long-term perspectives
|
|
|
recognizing the trade-offs between effectiveness and efficiency
|
|
|
emphasis on the attainment of short-term objectives
|
Detailed explanation-1: -The four key attributes of strategic management include all of the following except: emphasis on the attainment of short-term objectives. Behavior of firms rather than individual human behavior within firms. stakeholder groups often have goals that potentially conflict with those of other stakeholder groups.
Detailed explanation-2: -1) It is directed toward overall organizational goals and objectives; 2) It includes multiple stakeholders in decision making; 3) It requires incorporating both short-term and long-term perspectives; 4) It involves the recognition of trade-offs between effectiveness and efficiency.
Detailed explanation-3: -The four phases of strategic management are formulation, implementation, evaluation and modification.
Detailed explanation-4: -Grand strategies can include market growth, product development, stability, turnaround and liquidation.