BUS 450: Module 1 Notes - Foundations
of Strategic Management
Strategic Management - correct answer ✔✔the art and science of formulating, implementing, and
evaluating cross-functional decisions that enable an organization to achieve its objectives
True - correct answer ✔✔T/F
Strategic management is used synonymously with the term strategic planning in this course.
strategy formulation, implementation, and evaluation - correct answer ✔✔T/F
Sometimes the term strategic management is used to refer to ___________, _____________, and
_________, with strategic planning only referring to strategy formulation
Strategic Plan - correct answer ✔✔is a company's game plan
results from tough managerial choices among numerous good alternatives, and it signals commitment to
specific markets, policies, procedures, and operations.
The Strategic Management Model - correct answer ✔✔****
strategy formulation, strategy implementation, strategy evaluation - correct answer ✔✔What are the
stages of Strategic Management?
Strategy Formulation - correct answer ✔✔-developing a vision and mission
-identifying an organization's external opportunities and threats
-determining internal strengths and weaknesses
-establishing long-term objectives
of Strategic Management
Strategic Management - correct answer ✔✔the art and science of formulating, implementing, and
evaluating cross-functional decisions that enable an organization to achieve its objectives
True - correct answer ✔✔T/F
Strategic management is used synonymously with the term strategic planning in this course.
strategy formulation, implementation, and evaluation - correct answer ✔✔T/F
Sometimes the term strategic management is used to refer to ___________, _____________, and
_________, with strategic planning only referring to strategy formulation
Strategic Plan - correct answer ✔✔is a company's game plan
results from tough managerial choices among numerous good alternatives, and it signals commitment to
specific markets, policies, procedures, and operations.
The Strategic Management Model - correct answer ✔✔****
strategy formulation, strategy implementation, strategy evaluation - correct answer ✔✔What are the
stages of Strategic Management?
Strategy Formulation - correct answer ✔✔-developing a vision and mission
-identifying an organization's external opportunities and threats
-determining internal strengths and weaknesses
-establishing long-term objectives
