Strategic Management — process?
Ongoing formulation, implementation, evaluation.
Environmental Scanning — purpose?
Identify external/internal factors affecting strategy.
SWOT Analysis — components?
Strengths, Weaknesses, Opportunities, Threats.
Strategic Management — definition?
Ongoing process of setting and achieving long-term goals.
Environmental Scanning — purpose?
Identify opportunities, threats, strengths, weaknesses.
SWOT Analysis — components?
Strengths, Weaknesses, Opportunities, Threats.
Porter's Five Forces — focus?
Competitive rivalry, suppliers, buyers, threats, substitutes.
PESTEL Analysis — factors?
Political, Economic, Social, Technological, Environmental, Legal.
Competitive Advantage Types — examples?
Cost leadership, differentiation, focus.
Sources of Advantage — examples?
Unique resources, capabilities, market position.
Answer 9 questions on Mastering Strategic Management Fundamentals.
1. What is the 'Strategic Management Process' primarily considered to be?
2. Which of the following best describes the primary purpose of environmental scanning in strategic management?
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