PHASE 1
The Nature of Strategic Management
True/False
Intro
1 ) The underpinnings of proper management hinge on managers gaining a comprehension of rivals, markets, rates, suppliers, suppliers, governments, collectors, shareholders and customers worldwide.
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2 . Although the Internet has increased in popularity, it includes actually triggered increases in company bills.
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a few. Consumer web commerce is 5 fold greater than business-to-business e-commerce.
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What Is Tactical Management?
some. Optimizing for tomorrow the trends more recently is the purpose of strategic supervision.
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five. Even though useful, strategic planning has been cast aside by corporate America because the early 1990s.
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Source allocation is included in strategy-formulation activities.
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6. The terms tactical management and strategy implementation are synonymous.
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six. A perspective statement is, in essence, a company's game plan.
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almost eight. Strategy implementation is often regarded as the most hard stage in the strategic-management method because it requires personal self-discipline, commitment and sacrifice.
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9. The final stage in strategic management is strategy implementation.
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10. Approach formulation, execution and analysis activities happen at three hierarchical amounts in a huge diversified organization: corporate, divisional and practical.
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11. One of many fundamental technique evaluation activities is critiquing external and internal factors that are the bases for current tactics.
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12. An objective, reasonable, systematic approach for making significant decisions in an organization is actually a way to describe the strategic-management process.
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13. Ideal management is definitely an attempt to organize qualitative and quantitative information in a way that enables effective decisions to be made under conditions of uncertainty.
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18. Analytical and intuitive considering should match each other.
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12-15. According to Albert Einstein, " Know-how is far more essential than pure intuition. ”
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16. Administration by intuition can be defined as working from the " I've-already-made-up-my-mind-don't-bother- me-with-the-facts mode. ”
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seventeen. By monitoring external occasions, companies are able to identify when change is necessary.
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Search terms in Strategic Management
18. Anything the firm will especially very well compared to opponent firms could be considered a competitive edge.
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nineteen. Once a organization acquires a competitive benefits, they are usually in a position to sustain the competitive advantage for an extended period of time.
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twenty. Newspaper businesses in the United States supply a good example of how a organization can maintain a competitive advantage within the long term.
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21. In order for a firm to achieve sustained competitive advantage, a firm need to continually adjust to changes in external trends and events and effectively formulate, implement, and evaluate tactics that capitalize upon those factors.
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22. Strategists are usually found in higher levels of management and also have considerable expert for decision-making in the firm.
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3. The middle administrator is the most obvious and important strategic manager.
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twenty-four. All strategists have comparable attitudes, ideals, ethics and concerns to get social responsibility.
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25. A vision statement answers the question, " What is our business?, ” whereas a mission...
