The three on-going processes are strategic analysis, strategic formulation and strategic implementation. These three components parallel the processes of analysis, decisions and actions.... read more ›
Five stages of strategic management process
identifying and analyzing internal and external strengths and weaknesses; formulating action plans; executing action plans; and. evaluating to what degree action plans have been successful and making changes when desired results are not being produced.... continue reading ›
The correct answer is D) It concerns the present direction of the organization. This is not a focus of this type of management, which is more future- and over-the-lifetime-of-the-business-oriented.... continue reading ›
- Business strategy.
- Operational strategy.
- Transformational strategy.
The strategies at each level of the organization are known by the name of the level. Corporate level strategy. Business level strategy. Functional level strategy.... read more ›
- Continuous process.
- Group activity.
- Dynamic function.
- Intangible force.
The five types of strategic management enumerated from most simplistic to most complex are linear, adaptive, interpretive, expressive, and transcendent. These five types of strategic management represent a continuum of organizational focus and action.... continue reading ›
Characteristics of Strategic Planning
It is a forward-looking activity wherein the future opportunities and threats are ascertained while considering its profitability, market share, product and competition. It can be done for the entire organization or to a specific business unit.... read more ›
Strategic management process is a continuous culture of appraisal that a business adopts to outdo the competitors. Simple as it may sound, this is a complex process that also covers formulating the organization's overall vision for present and future objectives.... see more ›
1) It is directed toward overall organizational goals and objectives; 2) It includes multiple stakeholders in decision making; 3) It requires incorporating both short-term and long-term perspectives; 4) It involves the recognition of trade-offs between effectiveness and efficiency.... read more ›
The five stages of the process are goal-setting, analysis, strategy formation, strategy implementation and strategy monitoring.... see more ›
|Q.||Which one of the following is at the core of strategic management?|
|C.||Adapting the organisation to a changing external environment|
|D.||Choosing whether to make decisions autocratically or on the basis of participation|
|Answer» c. Adapting the organisation to a changing external environment|
Solution(By Examveda Team) 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.... view details ›
Strategic management is the process of setting goals, procedures, and objectives in order to make a company or organization more competitive. Typically, strategic management looks at effectively deploying staff and resources to achieve these goals.... see more ›
|Q.||Which of the following is not an advantage of strategic management?|
|C.||It helps orientate management decisions to relevant environmental conditions|
|D.||It helps organisations be proactive rather than reactive|
|Answer» b. It helps improve the political, economic, social and technological environment of the organisation|