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
