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a. CEO. a. the key factor in success is choosing the correct industry in which to compete. Strategic Management Chap 1 Flashcards | Quizlet b. customers pay the highest sustainable price for the goods and services they receive. Match the type of leader (on the left) with the corresponding description (on the right). Strategic management is the process of defining and implementing an organization's strategy. how your business plans to achieve it goals and improves and sustains it position in the industry. Strategic management adheres to the perspective that what might be seemingly ideal for one functional area of an organization might not be in the best interest of the total organization. c. personal computer Strategic Management Advantages and Disadvantages - Wisestep a. strategic mission. B the process of strategic management requires that The strategic management process has five steps: establish the mission and vision, establish the grand strategy, formulate the strategic plans, carry out the strategic plans, and maintain strategic control. Pearce and Robinson, 1988. Phase 1: By "Assess and Organize" we mean assessing the current strategic direction and capabilities of the organization and designing and organizing an appropriate startup program based on this assessment. What is the Concept of Strategic Management? - Talentedge To simply put, strategy evaluation entails reviewing and appraising the strategy implementation process and measuring organizational performance. True/False, A firm's mission tends to be enduring while its vision can change in light of changing environmental conditions. The mission of IIM Lucknow is to improve management systems with regard to business, industry and public services through pursuit of excellence in management education, research, consultancy and training. b. Strategic Management Course Online by IIM Lucknow - Talentedge True or false: Intended strategy rarely survives in its original form. What is Strategic Management Process? - Economics Discussion c. hypercompetition; technology diffusion. c. return on sales. Effective strategic leaders (B) all policies and procedures used in functional departments. a. the social energy that drives, or fails to drive, the organization.