Strategic Management Concepts and Cases Chapter 1 The Nature of Strategic Management

Strategic Management Concepts and Cases Chapter 1 The Nature of Strategic Management

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Chapter 1 1. The term _________ is used to refer to strategy formulation, implementation, and evaluation, with _________referring only to strategy formulation. a) strategic planning; strategic management b) assessment; planning c) strategic management; strategic planning d) management cycle; brainstorming 2. Which of these requires a firm to establish annual objectives, devise policies, and allocate resources? a) Strategy formulation b) Strategy implementation c) Strategy manipulation d) Strategy evaluation 3. The rationale for periodically conducting strategic-management meetings away from the work site is to encourage more _____________ and ____________ among participants. a) feedback; rigidity b) creativity; candor c) confidence; self-interest d) strategy evaluation; candor 4. Anything that a firm does especially well compared to rival firms is referred to as: a) competitive advantage. b) comparative advantage. c) an external opportunity. d)
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This note was uploaded on 07/21/2011 for the course BUS 10001 taught by Professor All during the Spring '11 term at Shaheed Zulfiqar Ali Bhutto Institute of Science and Technology.

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Strategic Management Concepts and Cases Chapter 1 The Nature of Strategic Management

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