BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What business(es) are we in?
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What direction are we going?
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What resources do we have to implement our strategies?
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What businesses are we in and what to do with those businesses?
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Detailed explanation-1: -Answer and Explanation: The correct answer is D) What businesses are we in and what to do with those businesses?
Detailed explanation-2: -In order to develop a corporate strategy, firms must look at how the various business they own fit together, how they impact each other, and how the parent company is structured, in order to optimize human capital, processes, and governance.
Detailed explanation-3: -Strategic resources are those that give your business an advantage and are difficult to imitate, according to Open Textbooks . Three standard company resources that combine to create competitive advantage are a company’s financial strength, its enterprise knowledge and its workforce.
Detailed explanation-4: -Corporate strategy concerns the scope of the firm along three dimensions: (1) vertical integration (along the industry value chain); (2) horizontal integration (diversification); and (3) geographic scope (global strategy).
Detailed explanation-5: -So what are strategic issues? They are those things that keep you up at night; they are those critical and unknowns that can present themselves as problems, as opportunities as market shifts or any other factors that have impact on the direction and course of your company.