BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Establishing strategic objectives
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Developing the steps to follow in implementing operational level plans
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Defining the business and developing a mission
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Developing a strategy
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Implementing and evaluating the chosen strategy
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Detailed explanation-1: -Expert-Verified Answer. Answer: Implementing and Executing the chosed Strategy efficiently and effectively.
Detailed explanation-2: -A strategic manager is responsible for reviewing a business’ current strategy and goals to identify its potential strengths, weaknesses and opportunities for improvement.
Detailed explanation-3: -Answer: 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-4: -There are five essential tasks of strategic management. They include developing a strategic vision and mission, setting objectives, crafting tactics to achieve those objectives, implementing and executing the tactics, and evaluating and measuring performance.