BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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implementation
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development
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evaluation
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analysis
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Detailed explanation-1: -The process of strategic management does not include assigning administrative responsibilities.
Detailed explanation-2: -Assigning administrative tasks is NOT a major element of the strategic management process. The process of strategic management includes goal setting, analysis, strategy formation, strategy implementation, and strategy monitoring.
Detailed explanation-3: -Strategic management refers to a branch of management that deals with an organization’s strategic objectives. This may include the development of the organization’s vision, outlining its operational objectives and coming up with and implementing the organization’s strategies.
Detailed explanation-4: -Since strategic evaluation and control is a part of strategic management process, all those persons who participate in strategy formulation and implementation should also participate in strategic evaluation except those who act in advisory capacity .
Detailed explanation-5: -The four phases of strategic management are formulation, implementation, evaluation and modification.