BUSINESS STRATEGY EXAM 8 QUESTIONS
WITH 100% CORRECT ANSWERS!!
strategic management
analysis of the current business situation, setting long term objectives, deciding on business
strategies to achieve them and then implementing these strategies
strategic analysis
the process of conducting research into the business environment and into the business itself, in
order to help identify future strategies
business strategy factors
-strengths of the business
-competitive environment
-resources available
-objectives
strategic choice
the process that leads to a decision to choose a particular strategy from various alternatives and
the techniques used to help make the choice
strategic implementation
the process of planning, allocating and controlling resources to support the chosen strategy
need for strategic management
-plan for future
-respond logically to changing business environment
-make effective long term decisions based on the clear objectives
blue ocean strategy
one that exploits uncontested market space through product differentiation and low cost
to identify blue ocean
WITH 100% CORRECT ANSWERS!!
strategic management
analysis of the current business situation, setting long term objectives, deciding on business
strategies to achieve them and then implementing these strategies
strategic analysis
the process of conducting research into the business environment and into the business itself, in
order to help identify future strategies
business strategy factors
-strengths of the business
-competitive environment
-resources available
-objectives
strategic choice
the process that leads to a decision to choose a particular strategy from various alternatives and
the techniques used to help make the choice
strategic implementation
the process of planning, allocating and controlling resources to support the chosen strategy
need for strategic management
-plan for future
-respond logically to changing business environment
-make effective long term decisions based on the clear objectives
blue ocean strategy
one that exploits uncontested market space through product differentiation and low cost
to identify blue ocean
