WorksheetsIntroduction to Strategic Management Quiz
Total questions: 8
Worksheet time: 13mins
The purpose of this is to gather information and to analyze it systematically and thoroughly. None of us would be wise to make an important decision about anything in life without adequate and relevant information, and nor would tourism, hospitality, and events organizations.
Strategic Analysis
Strategic Implementation
Strategic Selection
Which of the following statements is incorrect
Mission is a general statement of how you will achieve your vision.
Values are the fundamental beliefs of a person or organization.
Vision is a specific action and timeline for achieving the goal
A stage in the strategic process involves taking the important information gathered from the strategic analysis stage and using it to make an intelligent and informed strategic selection or choice of the most appropriate courses of action for the future.
Strategic Analysis
Strategic Implementation
Strategic Selection
Which of the following statements is correct?
Strategic analysis is an examination of the internal environment only.
In implementing the strategic process it is necessary to be aware not only of changes occurring to the internal and external environment but also of changes to the subject matter itself.
Strategic analysis is an examination of the external environment only.
Once we have established the organization’s internal strengths and weaknesses, and its external opportunities and threats, the challenge becomes the selection of an appropriate strategy. Such a strategy is required to address the weaknesses and threats whilst at the same time, building upon the identified strengths and exploiting opportunities. It is important to understand that a detailed internal and external analysis is a necessary prerequisite for producing a summary of the strengths, weaknesses, opportunities, and threats – the SWOT. In other words, the SWOT emerges from the internal and external analyses and is a summary of the main results.
TRUE
FALSE
MAYBE
A type of international private business self-regulation that aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in or supporting volunteering or ethically-oriented practices.
Corporate Social Responsibility
Corporate Strategy
Corporate Planning
The fundamental reduction in the number of wasted resources that are used to produce a given number of goods or services (output).
Efficiency
Effectivity
3 Steps in Strategic Management Process
Strategic Planning
Strategic Selection
Strategic Management
Strategic Analysis
Strategic Implementation
