BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Driving your competitors out of business for good
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Good human resource management
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Customer satisfaction
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Competitive advantage and improved performance
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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.