Strategic ManagementFor an organization to meet its goals in an increasingly complex competitive environment, its managers must develop and implement sound strategies. Doing so aligns the organization with its environment and allows it to navigate opportunities and challenges.Components of StrategyStrategy at the Business Level and Corporate LevelStrategy Formulation and ImplementationAn organization’s strategy is a comprehensive plan that describes the set of alternatives from which an organization chooses as it seeks to achieve its goals. An effective strategy aligns the organization with its environment and positions it to achieve strategic goals. Strategic management is a thorough, ongoing process for developing and implementing strategies.An effective strategy addresses three areas:•A distinctive competence is something the organization does very well—better than its competitors. For example, if a technology company designs software with a better user interface (UI) than competing software, it has a distinctive competence in UI.•The scope of an organization’s strategy describes the types of markets in which the organization will compete. A company, for example, might choose to manufacture casual sports attire; manufacture sports equipment; or manufacture sports attire and equipment, and operate sports arenas. Those are all different scopes of strategy.•Resource deployment is how the organization will allocate various resources across the businesses competing in different markets. A financial services company might choose to invest more in retirement planning, invest less in mortgage lending, and withdraw completely from brick-and-mortar retail banking.Select the terms that best complete the following sentences.Managers determine an organization’s when they develop a comprehensive plan that describes the directions the organization may take to achieve its goals.Select the terms that best complete the following sentences.A statement describing which markets or businesses the organization will compete in is describing the of the organization’s strategy.Select the correct response for the following question.What are managers focusing on when they execute a strategy?Strategy implementationStrategy formulationGrade It NowSave & Continue Continue without saving
We value our customers and so we ensure that what we do is 100% original..
With us you are guaranteed of quality work done by our qualified experts.Your information and everything that you do with us is kept completely confidential.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
The Product ordered is guaranteed to be original. Orders are checked by the most advanced anti-plagiarism software in the market to assure that the Product is 100% original. The Company has a zero tolerance policy for plagiarism.Read more
The Free Revision policy is a courtesy service that the Company provides to help ensure Customer’s total satisfaction with the completed Order. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.Read more
The Company is committed to protect the privacy of the Customer and it will never resell or share any of Customer’s personal information, including credit card data, with any third party. All the online transactions are processed through the secure and reliable online payment systems.Read more
By placing an order with us, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.Read more