To address the challenges and opportunities they face organisations engage in a process of strategic management. Strategic management is:
Correct answer: C. long-term focused and composed of organisational strategy, including strategy formulation and implementation
- A. short-term focused and composed of organisational strategy, including strategy formulation and implementation
- B. short-term focused and composed of the organisation's mission, vision and value statements
- C. long-term focused and composed of organisational strategy, including strategy formulation and implementation
- D. long-term focused and composed of the organisation's mission, vision and value statementsMcqs Practice Tests
Explanation
Strategic management takes a long-term view and includes both formulating organisational strategy and putting it into action. Mission, vision, and values support strategy but do not by themselves constitute the whole strategic-management process.
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About Principles of Management
Management principles explain how organisations set objectives and coordinate people and resources to achieve them. Coverage includes planning, organising, staffing, directing, coordinating and controlling, along with authority, responsibility, delegation, span of control and the levels of management. These functions are related but not interchangeable, especially planning and controlling.
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