Strategic Management and Planning part 1

It is an activity undertaken for the purpose of producing or selling a particular commodity or service and earns a profit.

It is the surroundings or conditions in which an entity lives or operates.

It is the aggregate of all conditions, events and influences that surround and affects the business.

It is the set of managerial decisions that consists of planning, organizing, directing, and controlling the performance of the organization during the entire period of its existence.

• Vision and mission

• Strategic management

• Managerial accounting

Which of the following is not a characteristic of strategic management that makes it different from other types or management

• It is interdisciplinary

• It has internal focus

• It has external focus

• It concerns the present direction of the organization

It is the free movement of goods, capital, services, technology, information and people arising from the conversion of world views, products and ideas through the international integration of countries.

• Democratization

• Communication

• Globalization

It is the companies that are active in international business.

• Multinational Corporations

• Sole-Proprietorship

• European Union

The following are the advantages of globalization, except

• Employment

• Cheaper Price

• Conflicts

Opening the doors of international trade has given birth to intense competition which affected the local markets dramatically.

• Uneven Wealth Distribution

• Loss of culture

• Cut-throat competition

The internet is a major contributor to globalization.

• True

• False