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Business Strategy Mid-Term Exam Questions And Complete Verified Answers 2024.

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mission, objectives, external & internal analysis, strategic choice, strategy implementation, and competitive advantage - Answer Strategic Management Process: components in order Mission - Answer Defines the organization's purpose or reason for existence. Guides each step of the process. Objectives - Answer concrete and clear in action and/or target. Precise and measurable. External Analysis - Answer identify environmental opportunities and threats (SWOT) internal analysis - Answer identify internal strengths and weaknesses (VRIO) Strategic choice - Answer to gain competitive advantage Business Level strategy - Answer how to achieve competitive advantage in a particular business. cost leadership and product differentiation - Answer Examples of business level strategies (2) corporate level strategy - Answer competitive advantage in multiple markets diversification, global strategies,merger, strategic alliances, and vertical integration, - Answer Examples of corporate level strategies (5)

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