- A results from tough long-term managerial choices among numerous good alternatives, and it indicates commitment to specific markets, policies, procedures, and operations.
- Strategic Plan
- Operational Plan
- Tactical Plan
- Monitoring Plan
- Organization’s long-term objectives mean:
- One month only
- Six months only
- More than a year
- 3 Months only
- A fundamental difference between business strategy and military is that business strategy is formulated, implemented, and evaluated with an assumption of whereas, military strategy is based on an assumption of .
- competition, conflict
- conflict, competition
- war, friendship
- Conflict, Dominance
- A good mission statement .
- allows for the generation and consideration of a range of feasible alternative objectives and strategies without unduly stifling management creativity.
- needs to be narrow to stop anything new happening in the organization.
- is for Operational management only.
- is for Accounting Department only.
- An external audit is identifying rival firms and determining:
- their strengths, weaknesses, capabilities, opportunities, threats, and objectives.
- their employees
- their shareholder details
- All of the above
- As per Resource Based View (RBV), firm structure and database are examples of
- physical resources
- human resources
- organizational resources
- management information system
- include a large market share, quicker on time delivery than rivals, shorter
