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WorksheetsStrategic Management Week1
Total questions: 15
Worksheet time: 9mins
Strategy came from the Greek word STRATEGOS which mean?
army and to think
army and to lead
business and for profit
business and for change
A company’s strategic plan:
links the company’s financial targets to control mechanisms.
maps out the company’s history.
outlines the competitive moves and approaches to be used in achieving the desired business results
All the above
Strategic planning is....
Long term planning
Short term planning
General planning
Seasonal planning
Which is the FIRST step in the strategic Management process?
Monitoring and evaluating strategies
Developing the vision and mission
Strategy formulation
Goals and Objectives
When developing strategy for organization, which questions should we ask first?
How we will get there on a daily to weekly basis?
How are our departmental operational plans?
What are our short-term goals and operational objectives? How do we break down a larger strategic goal into workable tasks?
Where do we compete? What unique value do we bring to market? Which resources do we have or need? How do we sustain our value?
The internal business environment consists of...
factors that directly impact the organisation
factors that influence the operations of the business
factors that influence the wider environment in which the business operates
It is a continuous process of strategy creation.
strategic analysis
strategic implementation
strategic management
none of the above
It is more popular than strategic management
strategic analysis
strategic planning
strategy formulation
all of the above
Comparative advantage is the accomplishment of a high level of productivity that is characterized by efficiency in the context of lean and quantifiable management.
YES
NO
Strategic planning generates the blueprint of what an organization intends to accomplish.
YES
NO
