Strategic management Flashcards
Chapters 10 & 11
1
Q
A
2
Q
What is strategy
A
It is a long-term goal and plans to achieve a competitive advantage.
3
Q
Define strategic management
A
It is the process of creating, implementing, and evaluating processes
4
Q
What is the first phase of strategic management process?
A
Analyze: Assess internal and external factors.
5
Q
What is the last phase of strategic management process?
A
Evaluation: monitor progress and adjust strategy if needed.
