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BUSI 400 TOP Exam Questions and CORRECT Answers
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strategic management decisions made and the reasons behind those decisions key attributes of strategic management 1) organization toward goals and values 2) include stakeholders 3) incorporate short-term and long-term targets 4) include trade-offs for effectiveness and efficiency Two main elements of strategy Operational Efficiency and Competitive Strategy Operational Efficiency performing similar activities better than rivals; promotes constant change; productivity curves move forward; important but not sufficient; drives competitive convergence competitive convergence if all competitors become efficient in the same activity, there is a zero-sum game
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