D) Strategy is actually the end result of strategie planning 15. is the process
ID: 333092 • Letter: D
Question
D) Strategy is actually the end result of strategie planning 15. is the process of ensuring that an organization possesses and benefits from the use of an appropriate organizational strategy A) Strategic planning B) Strategy visualization C) Decision making D) Strategic management 16. The first step of strategic management is designed to A) establish an organizational direction B) formulate strategy C) study the organizational environment D) advise managers to commit funds for planning 17. Examples of internal factors that will affect the strategy of a company are the organizations financial stability, the employees, management, marketing or accounting.T 18. Some components of the general environmental analysis consists of the economy, legal, technology and political issues. T F 19. The level of an organization's external environment that contains components having broad long-term implications for managing the organization is the A) general environment B) financial environment C) demographic environment D) internal environment 20. Which level of the organization's environment exists inside the organization and normally as immediate and specific implications for managing the organization? A) the general environment B) the internal environment C) the operating environment D) the external environment 21. The document that is written by management and describes and explains what the purpose for which the organization exists is the A) mission statement B) strategic plan C) operating plan D) vision statement 22. Which of the following statements accurately reflects the relationship between the mission and the objectives? A) The mission statement reflects and flows naturally from the objectives. B) The objectives reflect and flow naturally from the mission.Explanation / Answer
15. D. Strategic Management
Explanation- It is the process of ensuring that an organization possesses and benefits from the use of an appropriate organizational strategy. Whereas the strategic planning is used to set priorities and ensure that all the stakeholders are working towards the common goals; strategy visualization is infographics used for the visualization of a business strategy.
16. A. Establish organizational direction
Explanation- The very first step in strategic management process is to clarify the vision. Identification of mission, goals and strategies in achieving the desired objectives is pertinent for strategic management.
17. True
Explanation- The internal factors that affect the strategy of a business include the factors of the company that directly influence how the company functions. Examples include financial stability like funding, human resources, management style and the accounting methods.
18. True
Explanation- Environmental analysis includes macro and micro environment of the business. Some of the components include Political, legal, Economy, Social, Technology factors. Example, PESTLE analysis.
19. A. General Environment
The level of an organization's external environment that contains components having broad long-term implications for managing the organization is referred to the general environment. Other options indicate specific focus on finance, internal factors and the demographic factors such as age, sex, etc.
20. C. Operating environment
Explanation- Industry environment is the level of an organization's external environment that contains components normally having relatively specific and immediate implications for managing the organization. Industry environment is otherwise called the operating environment. Example, Porter’s fiver force analysis.
21. A. Mission statement
Explanation- A mission statement is a written document developed by management which describes and explains the mission of an organization. A vision statement is a road map and describes what the company wants to be in the future. A mission statement explains the purpose why a company exists.
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