Which of the following is NOT a characteristic of Strategic Management? a. It has an external focus b. It is interdisciplinary c. It has an internal focus d. It only focuses on the present direction of the organization
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Which of the following is NOT a characteristic of Strategic Management?
It has an external focus
It is interdisciplinary
It has an internal focus
It only focuses on the present direction of the organization
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- Which of the following is not an advantage of strategic management? a. It provides organizations with a clearer sense of direction and purpose b. It helps improve the political, economic, social, and technological environment of the organization c. It helps orientate management decisions to relevant environmental conditions d. It helps organizations be proactive rather than reactiveWhich of the following is a crucial aspect of strategic planning?a. It is a broad concept that consists of business and corporate strategy.b. It is an overall concept that consists of strategy formulation and implementation.c. It is a broad concept that consists of environmental and internal analysis.d. It is a general concept that consists of business inputs and outputs.Which of the following is not a limitation of SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis? Select one :- a. Organizational strengths may not lead to competitive advantage. b. The SWOT focus on the external environment is too broad and integrative. c. SWOT gives a one-shot view of a moving target. d. SWOT overemphasizes a single dimension of strategy.
- 33) Which of the following is a potential disadvantage for companies described as prospectors? a) Focusing on Product offering b) Being responsive to change in the environment, c) Being less formalized in its organizational processes d) Inefficient use of resourcesStrategic management The strategy has its own "lingo" that we should know. Entry at least two words and include a definition +very short explanation Example: Strategy a detailed plan for achieving success in situations such as war, politics, business, industry, or sport, or the skill of planning for such situations. It means that is the activity we do while planning for something that where want to succeed.Is a strategic issue positive or negative? Positive, because once the strategic issue is addressed, it becomes the focus point of the business Positive, because the issue can be resolved and dealt with Negative, because the issue cannot be resolved Negative, because your company should not be having strategic issues Positive, because as long you are strategic, it will work out.
- Strategic planning involves setting long-term goals and objectives, determining the actions needed to achieve these goals, and allocating resources to implement those actions effectively. It's a structured approach that helps organizations adapt to changing environments, make informed decisions, and stay focused on their vision. Multiple Choice Question: Which of the following is a key characteristic of strategic planning? a) Short-term focus b) Reactive decision-making c) Adaptability to changes d) Limited consideration of resourcesWhich of the following is NOT an example of technology strategy? Select one: a. Low technology businesses face many strategic issues, like standards and increasing returns that are much rarer with high technology businesses. b. Technological change opens up opportunities for new, high growth businesses in ways not possible in other settings. c. Technology strategy involves the use of intellectual property management to capture financial returns to a much greater degree than general business strategy. d. Technology strategy has to deal much more with issues of uncertainty than general business strategy because technological change is highly uncertain.Recommend the necessary a) 5 guidelines; and b) 10 sequential steps required in preparing a written strategic plan report. This is not an assignemt this is just a question please answe it. thanks
- Which of the following statements about organizational missions is FALSE? a. They indicate what a company tends to contribute to society b. They define a company’s reason for existence c. They are formulated after strategies are known d. They reflect a company’s purpose e. They provide guidance for functional area missionsWhy is it important to set financial objectives? a. To overtake key competitors on such important measures as net profit margins and return on investment. b. Without adequate profitability and financial strength, the company's ultimate survival is jeopardized. c. To convince shareholders that top management is acting in their interests. d. To translate the company's business model into action items. e. To indicate to employees that financial objectives always take precedence over strategic objectives. Companies set strategic objectives: a. to achieve a company's strategic vision. b. because they are more difficult to achieve and harder to measure than financial objectives. c. to target outcomes that indicate a company is strengthening its market standing, competitive position, and future business prospects. d. to help managers track an organization's true progress better than financial objectives. e. to indicate to employees that strategic objectives always take…Directions: Read each statement carefully. In a separate sheet of paper, write TRUE if the statement is correct and FALSE if the statement does not fit the description 1. CRM helps businesses build a relationship with their customers that, in turn, creates loyalty and customer retention 2. Customer database information is also used in customer segmentation and profiling 3. An intimate knowledge and understanding of customer needs and wants can lead to ineffective customer service that can result in long-term customer loyalty. 4. Acquiring and keeping customers is the end goal of businesses because customers create demand. 5. Maintaining high levels of customer service quality may be simple due to variability of services. 6. Customer's lifetime value involves activities designed to enhance customer satisfaction, or the perception that a product has met or exceeded expectations. 7. Customer Relationship Management can take on many forms-salesperson assistance, product delivery, technical…