Strategic Management

Strategic Managementthe art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives strategic managementrefers to strategy formulation, implementation and evaluation strategic planningrefers only to strategy formulation strategy formulationincludes developing a vision and mission, identifying an organization's external opportunities and threats, determining internal strengths and weaknesses, establishing ...

A greenfield venture strategy involves - ️️creating a subsidiary business by setting up all aspects of the operation from the ground up The strategic options for expansion into foreign markets do not include - ️️relying on home country governments to restrict imports via raising tariffs and local content requirements _________ is when a company sells its goods in foreign markets at prices that are below the prices at which it normally sells in its home market or well below its full...

Strategic Management Test #1 Strategic Competitiveness - Answer-is achieved when a firm successfully formulates and implements a value-creating strategy Strategy - Answer-is an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage Competitive advantage - Answer-when it implements a strategy that creates superior value for customers and competitors are unable to duplicate or find too costly to try to imitate Ab...

Strategic Management Exam 1 (Chapters 1-3) 42) A sequential set of analyses and choices that can increase the likelihood that a firm will choose a strategy that generates competitive advantages is the A) organizational change process. B) strategic management process. C) mission statement process. D) goal setting process. - Answer-Answer: B 43) A firm's ________ is its long-term purpose that defines both what it aspires to be in the long run and what it wants to avoid in the meantime. ...

Strategic Management (CH: 1,3,4,5) Strategy - Answer-the coordinated means by which an organization pursues its goals and objectives. Strategic management process - Answer-a process that uses vision, goals and objectives, internal and external analysis, and implementation levers that can be used to help formulate and implement strategy. Strategic Management - Answer-the process by which a firm manages the formulation and implementation of its strategy. Competitive advantage - Answer-...

Strategic Management What is competitive advantage? - Answer- a firm that formulates and implements a strategy that leads to superior performance relative to other competitors in the same industry or the industry average What are the levels of strategy formulation? - Answer- corporate, business, functional What is the difference between corporate and business strategies? - Answer- Corporate strategy is formulated at headquarters and business strategy occurs within strategic business ...

Exam (elaborations) Strategic management

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