Test Prep This preview shows page 4 - 6 out of 31 pages. 13) A course of action that a firm can pursue to achieve its strategic aims is known as a________.A) visionB) goalC) strategyD) tacticE) missionExplanation: A strategy is a course of action taken by a firm to achieve strategic aims. Forexample, if Yahoo! decides it needs to raise money and focus on its applications, one strategy ofthe firm would be to sell Yahoo! Search. The vision is what a firm anticipates for the future, andthe mission addresses the specific business of the firm. 14) All of the following are steps involved in the strategic management process EXCEPT________. Get answer to your question and much more 15) What is the first step in the strategic management process? Get answer to your question and much more We have textbook solutions for you! The document you are viewing contains questions related to this textbook. Entrepreneurial Finance Leach/Melicher Expert Verified Chapter 35E) implementing an environmental scanExplanation: The first step in the strategic planning process is defining a firm's current businesssituation, which involves assessing what products are sold, where the products are sold, and howthe products differ from those offered by the competition. This step is followed by performinginternal and external audits, which may involve using an environmental scanning worksheet. Afirm would then formulate a new mission and translate the mission into strategic goals beforedeveloping a strategy to achieve those goals.16) Which of the following is a simple guide used to compile relevant information abouteconomic, competitive, and political trends that may affect a firm? Get answer to your question and much more Upload your study docs or become a Course Hero member to access this document Upload your study docs or become a Course Hero member to access this document End of preview. Want to read all 31 pages? Upload your study docs or become a Course Hero member to access this document Tags Strategic Human Resource Management, Sweet Leaf Tea We have textbook solutions for you!The document you are viewing contains questions related to this textbook. The document you are viewing contains questions related to this textbook. Entrepreneurial Finance Leach/Melicher Expert Verified Newly Uploaded DocumentsNewly Uploaded DocumentsWhat are the 4 strategic process?The four phases of strategic management are formulation, implementation, evaluation and modification.
What are the 4 types of strategies and strategic analysis?The strategies at each level of the organization are known by the name of the level. Corporate level strategy. Business level strategy. Functional level strategy.
What is the aim of strategic?Strategic aims include large goals you want to reach through your strategies. These can include things such as gaining a majority of market share, reaching a productivity rate of 90 percent of capacity or owning your facilities instead of renting them.
What is strategy in action in strategic management?It's when a strategy is translated into specific actions, timelines and responsibilities that it enables an organization to deliver on key goals. Without this executional layer, the most brilliant, focused strategy will be challenging to be implemented and fall short of the desired impact.
|
A course of action that a firm can pursue to achieve its strategic aims is known as a ________.
zusammenhängende Posts
Urheberrechte © © 2024 defrojeostern Inc.
