MGT 476 test review - acStudy guide for the first exam in...

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acStudy guide for the first exam in MGT476 2010 REMEMBER THIS IS A WRITING ENHANCED CLASS. There will be short answer questions and multiple choice questions Chapter 1 1) Why is strategy implementation often considered the most difficult stage in the strategic management process? Pg 6 Often considered to be the most difficult stage in strategic management, strategy implementation requires personal discipline, commitment, and sacrifice. Successful strategy implementation hinges upon managers ability to motivate employees, which is more of an art than a science. 2) Discuss the relationships among mission, objectives, strategies. 3) Write a definition of strategic management and thoroughly describe each of the three stages of the strategic management process. Art & science of formulating , implementing , and evaluating , cross-functional decisions that enable an organization to achieve its objectives Strategy formulation includes developing a vision and mission, identifying an organization’s external opportunities and threats, determining internal strengths and weaknesses, establishing long-term objectives, generating alternative strategies, and choosing particular strategies to pursue.
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MGT 476 test review - acStudy guide for the first exam in...

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