STRAMA Online Quiz 1 3HHL1

Strategic management is participated only by the top management.

• TRUE

• FALSE

All business should have an identified purpose of its existence.

• True

• False

The components of the strategic management are purpose, situation analysis, strategy, and control.

• True

• False

Strategic planning is not a requirement for all the businesses to sustain their operations.

• True

• False

Strategic change is guided by the strategies identified by the management.

• True

• False

Continuous improvement is guided by the key performance indicators.

• True

• False

Vision can be any general statement of the company.

• True

• False

Values statement is present in all organizations.

• True

• False

SMART means

• Specific, Meaningful, Attainable, Realistic, Time Bound

• Specific, Measurable, Artistic, Realistic, Time Bound

• Specific, Measurable, Attainable, Realistic, Time Bound

Learning strategic management is important because