BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

STRATEGIC MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What is the ultimate aim of successful strategy implementation?
A
Driving your competitors out of business for good
B
Good human resource management
C
Customer satisfaction
D
Competitive advantage and improved performance
Explanation: 

Detailed explanation-1: -The ultimate goal is to enable organisations to effectively translate strategic intent all the way through to results in a clear and powerful process.

Detailed explanation-2: -Successful strategy implementation can be challenging, and it requires strong leadership and management skills. Effective delegation, patience, emotional intelligence, thorough organizational abilities, and communication skills are crucial.

Detailed explanation-3: -Having a competitive strategy is most important when a company has a competitive marketplace and several similar products are available for consumers. This strategy helps you create a defensive position in your industry, along with generating a superior return on investment.

Detailed explanation-4: -The goal of strategy implementation is to develop a permanent competitive advantage. Risk in terms of financial returns reflects an investor’s uncertainty about economic gains or losses that will result from a particular investment.

There is 1 question to complete.