the culmination of the strategic management process is:

A company competing in a single product market has a. predict future revenue streams for the organization. It is the culmination of all of the prudent decisions taken by the firm's managers throughout time for the benefit and prosperity . Strategic management means managing the resources of an organization to reach its goals such as financial and operational objectives. The strategic management process has five steps: establish the mission and vision, establish the grand strategy, formulate the strategic plans, carry out the strategic plans, and maintain strategic control. Above average returns are those in excess of what an investor expects to earn from other investments with similar stock prices. Defend your answer. a. In the strategic management process ASP stands for 5. a. goal b. strategy c. tactic d. mission ANSWER: b 104. d. All of these options are correct, Strategic delegation helps d. estimating the size of the value-chain activity in the pool. c. information. Income statement information for Thain Corporation is provided below. In a diversified firm, corporate-level strategy is concerned with: determining in which businesses to compete and how resources will be allocated between businesses. b. team-based. Efficiency, in terms of strategic management, can best be described as ______. c. A mission Find the future value of an annuity due of $\$ 12.000$ annually for three years at $3\%$ annual interest. D. $43,375. Essentially, the _________ has become one of the world's largest markets with 700 million potential consumers. True/False, Relative power is the most critical element for prioritizing the demands of stakeholders. The company requires that all divisions generate a minimum return on invested assets of 8 percent. c. employees. Introduction. Even for companies capable of succeeding in global markets, it is critical that they, The rate of technological diffusion is increasing. Make Better business decisions: It is important to understand the difference between a great idea and a good idea. d. 20; 36. The strategic leader's work is characterized by: ambiguous decision situations where the best course of action is not always easy to identify. c. return on sales. regardless of their location in the organization, strengths, weaknesses, opportunities, threats, In the strategic management process ASP stands for. b. only top managers It is a continuous process of analyzing and evaluating an organization's internal and external environment, setting objectives and goals, developing strategies, and implementing and controlling those strategies. d. is developed by a firm before the firm develops its vision. 09.23.22 Afra Alnaimi. Strategic management is the process of planning, monitoring, analysis, and assessment of all necessities an organization needs to meet its aims and objectives. committed to helping the firm to create value for all stakeholder groups, committed to nurturing those around them, and decisive, the social energy that drives, or fails to drive, the organization; the complex set of ideologies, symbols, and core values that are shared throughout the firm, and what people do when no one else is looking. c. obtaining reliable products at the lowest possible price. The rate of technology diffusion has been steadily increasing over the last two decades. Planning Team and Executive Team. It's widely recognized as a key part of Strategic Portfolio Management (SPM) processes and tools, and while ultimately, it's about delivering the initiatives, it's not just blindly following a plan in the hope that you'll end up in the right place. The culmination of the strategic management process is: A) performance. This is because the organization's role as a taxpayer is most important to as stakeholders. a. anthropology. symbiosis; zero sum. True/False, The uniqueness of a firm's resources and capabilities is the basis for a firm's strategy and determines its ability to earn above-average returns under the I/O review. The strategic management process is the systematic analysis of an organization's internal and external environment to achieve and retain a competitive advantage. the culmination of the strategic management process is: the culmination of the strategic management process is: . a. During the ______ step in the strategic management process, managers answer two questions: what industries should we compete in and how should we compete in those industries? - Evaluating efficiency and effectiveness . \text{Cost of goods sold}&\text{493,000}\\ Owner/CEO, Strategy Leader. c. political dimensions. Knowledge is an intangible resource. It should seek to diversify. Firms use the five forces model to identify the of the industry as measured by its Strategic management can also be described as a bundle of decisions and acts which a manager undertakes and which determine the result of the business's performance. B) strategy implementation. McDonald's has been able to a. earn above-average returns. Strategic management is the organization's analysis, decision-making, and actions to create and maintain a competitive advantage (Gurel Emet, 2017;Tapera, 2014). Knowledge is composed of all of the following(expertise, information, intelligence) except: Which of the following statements about organizational knowledge is correct? In ancient China, strategist and philosopher Sun Tzu offered thoughts on strategy that continue to be studied carefully by business and military leaders today. In terms of analyzing the external environment of the firm, the industry environment consists of ______ and other organizations that may threaten the company's success. It requires incorporating both short-term and long-term perspectives. b. strategy implementation. d. All of these options are correct., A firm has achieved when it successfully formulates and implements a value-creating strategy. Firms use both the _____and______models. The strategic management process is the full set of commitments, decisions, and actions required for a firm to achieve strategic competitiveness and earn above-average returns. Let us take a look at the five conventional functions of the management process. The global economy, globalization, rapid technological change, and the increasing importance of knowledge are creating the need to a. the march of globalization. SWOT stands for b. estimating the overall size of the pool. Which of the following are characteristics of a well-written organizational vision statement? a. a set of activities that will assure a sustainable competitive advantage and above-average returns for the firm. Collect and review information to help make the upcoming strategic decisions. (Check all that apply.). According to Hitt, the primary drivers of hyper-competition are: the emergence of a global economy and rapid technology change. a. inspired. d. emphasize profit maximization. How to develop a strategic management process. In the instance, the implementation . What are the four levels of a company's strategy formulation? 97.A major assumption about the strategic management process is that it is: (A) inspired. In strategy formulation, ______ activities are designed to create new value and is a major engine for economic growth. d. coordinating the vision and mission of each subsidiary firm. Capital market stakeholders include Match the strategic management process with its corresponding term. (Check all that apply.). Strategy in which organizational decisions are determined by both analysis and unforeseen environmental developments is called ______ strategy. They involve balancing culture and boundaries or constraints. A customer can buy an iPod that plays music from iTunesall of which can be stored in Apples Mac computer (Inside CRM Editors, n.d.). d. industry; competency, ___should establish a firm's individuality and should be inspiring and relevant to all stakeholders. A ______ is an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage. b. local dimensions. The economic interdependence among countries is reflected in the flow of goods, services, financial capital, and knowledge across country borders is defined as: higher performance standards including quality and cost. Which of the following statements regarding strategic management is true? The strategic management process is The third step of the strategic management process is the ______ step. The Strategic Management process is the way in which strategists determine objectives and make strategic decisions. Reward Organizational stakeholders include The five stages of the process are: setting goals or objectives, analysis, strategy formation, strategy implementation, and strategy monitoring. Describe whether each of the following statements makes sense (or is clearly true) or does not make sense (or is clearly false). Which of the following is the most inclusive term for the individuals, groups, and organizations that have a claim in the success of an organization? A firm's vision, mission, and strategic objectives form a hierarchy of . b. mission Write the key term that best matches each description. Greenleaf will not be able to minimally satisfy all stakeholders. b. predict growth in sales over the medium to long range. b. weak competition c. strategy formulation. The Snack Division's operating margin for the year was $6.5\$ 6.5$6.5 million, during which time its average invested capital was $50\$ 50$50 million. d. analysis. The firm's ___ provide the foundation for choosing one or more ___ and deciding how to implement them. c. profits that are accrued when a firm earns above-average returns. Knowledge is composed of all the following EXCEPT a. their return on investment has been maximized. . The value of SWOT analysis parallels ideas from classic military strategists such as Sun Tzu, who noted the value of knowing yourself as well as your opponent. d. All of these options are correct. Pearce and Robinson, 1988. ______ should establish a firm's individuality and should be inspiring and relevant to all stakeholders. The number of different businesses that an organization is engaged in and the extent to which these businesses are related to one another. Why is it important to view strategic management as a process? d. products that were not imitated by competitors. Effective strategic leaders are chosen based on: their capabilities and accumulation of human capital over time. Strategy Implementation emphasizes on efficiency; requires motivational and leadership traits. Corporate governance is the relationship among ______ in determining the direction and performance of corporations. d. social value of each stakeholder. \end{array} Apple's iPod and iPad are examples of ______ is performing similar activities better than rivals do. d. easy to implement; unique. (Check all that apply.). The CEO of Ridgeway, Inc., realizes that the company's survival depends on developing and acquiring knowledge. Strategic management is the set of decisions and actions resulting in the formulation and implementation of plans designed to achieve a company's objectives. All of the following are assumptions of the industrial organization (I/O) model EXCEPT c. determining in which businesses to compete and how resources will be allocated between businesses. Inside CRM Editors. a. operating each individual business under the corporate umbrella. b. In such a . ______ requires that organizations continually monitor and scan the environment and respond to threats and opportunities. d. companies are paying the highest prices to suppliers, Product market stakeholders include True or false: The most effective organizations have strong leaders at the top who make all the decisions that the rest of the organization then carries out. a. sell their stock. (Check all that apply.). Strategic management process can be described as a set of managerial decisions and actions which determines the long-run direction and performance of the organization'. Between 2008 and 2010, Apple filed more than 350 cases with the US Patent and Trademark Office to protect its use of such terms as apple, pod, and safari (Apple Inc.). the process of formulating and implementing strategies to accomplish long-term goals and sustain competitive advantage Strategy formulation. In situation analysis, organizations must scan and evaluate the organization's performance, corporate strategies, and internal and external . This behavior reflects emphasizes that it is difficult to develop and sustain a competitive advantage based on resources alone. You can view this video here: https://youtu.be/o0U0gwvnhek. The two primary drivers of hyper-competition are the emergence of the global economy and technology. d. personality. a. major suppliers of capital d. All of these options are correct. The strategic management process begins with an understanding of strategy and performance. The goal of the organization's ___ is to point the firm in the direction of where it would like to be in the years to come. Explain your reasoning. organizational versus individual rationality. Strengths and weaknesses are assessed by examining the firms internal resources, while opportunities and threats refer to external events and trends. Because strategic management is directed toward overall organizational goals and objectives, it has the perspective of organizational versus _______ rationality. For example, intellectual property is a vital resource for Apple. b. abilities; strengths [1]. one business-level strategy and one corporate-level strategy. A Deeper Dive into the Strategic Management Process. c. the key to earning above-average returns is strategic flexibility. b. an important source of competitive advantage in virtually all industries. Although McDonald's is competing in an unattractive industry, it has improved its performance by focusing on product innovations and by enhancing existing facilities. Managers must take a(n) ______ view of the organization and assess how functional areas and activities fit together so that the organization can achieve its goals and objectives. Estimated Duration. True/False, The rate of growth of Internet-based applications could be affected by the strategies of Internet service providers charging users for downloading those applications. ______ provides the firm with new and up-to-date skill sets, which allow it to adapt to its environment as it encounters changes. c. the CEO and top managers a. return on assets. (B) team-based. . a. the businesses in which the company intends to compete. . It is a philosophical approach to business. a. How do you think the economic growth of developing countries will affect you and your family in the future? Situation Analysis. 1. a. goal The resource-based view of the firm

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