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Strategic Management Process

Authored by Adolfo Jr.

Education

University

Used 12+ times

Strategic Management Process
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Monitoring in the strategic management process primarily involves analyzing market trends and competitor actions. 

True

False

Either

Neither

Answer explanation

Analyzing – the process of examining the data related to market trends, competitor actions, and internal performance.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Mission statements are future-oriented and are meant to inspire employees. 

True

False

Either

Neither

Answer explanation

A vision statement is future-oriented and inspires employees.

3.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

A vision statement describes why a company exists and where it currently stands. 

True

False

Either

Neither

Answer explanation

A mission statement describes why a company exists and where it currently stands. 

4.

MULTIPLE SELECT QUESTION

45 sec • 4 pts

What are the major components of the Financial Statement?

Statement of Profit and Loss and Other Comprehensive Income

Statement of Changes in Equity

Statement of Financial Position

Statement of Cash Flows

Statement of Account

Answer explanation

The major components of the Financial Statement are the following:

Statement of Profit and Loss and Other Comprehensive Income.

Statement of Changes in Equity

Statement of Financial Position

Statement of Cash Flows

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The primary difference between a mission and a vision statement is that mission statements are aspirational while vision statements are actionable. 

True

False

Either

Neither

Answer explanation

Vision Statement - Aspirational

Mission Statement- Actionable

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Vision statements focus on the present achievements of the company. 

True

False

Either

Neither

Answer explanation

Mission statements focus on the present achievements of the company. 

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Analyzing in the strategic management process includes assessing the performance and impact of strategies against predetermined objectives. 

True

False

Either

Neither

Answer explanation

Assessing – the process of evaluating the performance and impact of their strategies against predetermined objectives.

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