TXST Cameron 4335 Exam with 100% correct solutions 2024

Business Strategy correct answers a masterplan for achieving business objectives and goals Environmental Scanning correct answers monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation. External Environment correct answers consists of opportunities and threats, things that are outside of the organization and not typically within the short-run control of top management Functional Strategy correct answers approach taken by a functional area to achieve corporate and business unit objectives and strategies by maximizing resource productivity mission correct answers the purpose or reason for the organizations existence. Announces what the company provides to society objective correct answers end results of planned activity. Should be stated as action verbs and tell what is to be accomplished by when and quantified if possible. program correct answers (tactic) a statement of the activities or steps needed to support a strategy. A program is a collection of tactics, whereas a tactic is an individual plan. strategic decision correct answers 23 A decision that will have considerable long-term effects on an organization strategic factor correct answers internal and external factors that determine the future of a corporation strategic management correct answers a set of managerial decisions and actions that determine the long-run performance of a corporation strategy correct answers comprehensive plan that states how a corporation will achieve its missions and objectives strategy formulation correct answers development of long term plans for the effective management of environmental opportunities and treats in light of corporate strengths and weaknesses