The Strategic Management Process
Must get 7/10 correct for to earn any points. Remember you can do an outline to guarantee points for the day.
1. A company's strategy is the "________ _________" management has for positioning the company, competing successfully, pleasing customers, and achieving good business performance.
2. Which is not one of the five tasks of strategic planning.
3. What a company is presently doing is referred to as the company's mission. Where a company wants to be in the future is referred to as a company's __________.
4. Name the two types of objectives.
5. Crafting a strategy is best captured by which short phrase? Is it...Why we are in business? What we want to achieve? or something other phrase
6. A company's actual strategy is partly planned and partly _______ to changing circumstances.
7. If objectives are the "ends", then _________ is the "means" of achieving them.
8. Ultimately the three big questions we are asking are:
a. Where are we now – what is our situation
b. Where do we want to go?
c. ________________________________
9. According to Illustration Capsule 4, name two of McDonald's eight core strategies.
10. If strategic management is NOT an EVENT, it is a ____________ .