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Business Strategy Chapter 2 Questions And Answers
With Solutions
strategic plan - ANSWER maps out where a company is headed,
establishes strategic and financial targets, and outlines the
competitive moves and approaches to be used in achieving the
desired business results;
aka lays out a company's future direction, performance targets,
and strategy
strategic plan - ANSWER the first three tasks of the strategic
management process make up a ____
strategic vision - ANSWER describes management's aspirations
for the future, providing a panoramic view of "where we are
going" and a convincing rationale for why this makes good
business sense for the company
describes the route a firm intends to take in developing and
strengthening its business. It lays out the firm's strategic course
in preparing for the future
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delineates the company's strategic course and long-term
direction
distinctive
specific to an organization - ANSWER Well-conceived visions are
(2)
why good strategic vision matters (5) - ANSWER It crystallizes
senior executives' views about the firm's long-term direction
It reduces the risk of rudderless decision making
It wins support for changes that will propel the firm along its
chosen strategic path
It guides lower-level managers' operating decisions in their
pieces of the business
It helps the firm prepare for the future
Business Strategy Chapter 2 Questions And Answers
With Solutions
strategic plan - ANSWER maps out where a company is headed,
establishes strategic and financial targets, and outlines the
competitive moves and approaches to be used in achieving the
desired business results;
aka lays out a company's future direction, performance targets,
and strategy
strategic plan - ANSWER the first three tasks of the strategic
management process make up a ____
strategic vision - ANSWER describes management's aspirations
for the future, providing a panoramic view of "where we are
going" and a convincing rationale for why this makes good
business sense for the company
describes the route a firm intends to take in developing and
strengthening its business. It lays out the firm's strategic course
in preparing for the future
, 2|Page
delineates the company's strategic course and long-term
direction
distinctive
specific to an organization - ANSWER Well-conceived visions are
(2)
why good strategic vision matters (5) - ANSWER It crystallizes
senior executives' views about the firm's long-term direction
It reduces the risk of rudderless decision making
It wins support for changes that will propel the firm along its
chosen strategic path
It guides lower-level managers' operating decisions in their
pieces of the business
It helps the firm prepare for the future
