BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Identify the problem, assemble a team, develop work groups and decide on a course of action.
|
|
|
Develop a plan, have a meeting with all of the interested stakeholders, implement the plan and monitor results.
|
|
|
Environmental scanning, assemble a strategy, implement the strategy and monitor and evaluate the strategy.
|
|
|
Strategically look at the issue and develop an action plan to address it.
|
Detailed explanation-1: -The strategic management process are steps that help achieve better business outcomes. The main components of the strategic management process are clarifying vision, environmental scanning, assembling a strategy, implementing the strategy, and then monitoring and evaluating the strategy.
Detailed explanation-2: -The five stages of the process are goal-setting, analysis, strategy formation, strategy implementation and strategy monitoring.
Detailed explanation-3: -What are the four basic elements of strategic management? Four basic elements to create a tactical strategic management plan includes; situational analysis, strategy development, strategy execution, and strategy evaluation.
Detailed explanation-4: -The strategic-management process consists of three stages: strategy formulation, strategy implementation, and strategy evaluation.