Question 14 There are three stages of strategic management---strategy formulatio

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Question 14

There are three stages of strategic management---strategy formulation, strategy implementation, and strategy evaluation---and these stages are listed not only in temporal sequence but in order of importance.

Select one:

True

False

Question 15

Being "proactive" means more than just taking initiative. It means that we take responsibility for our own lives; it means we identify our options and choose our responses; it means that our behavior is a funtion of our decisions, not our conditions.

Select one:

True

False

Question 16

In order for a firm to achieve sustained competitive advantage, a firm must continually adapt to changes in external trends and events and effectively formulate, implement, and evaluate strategies that capitalize upon those factors.

Select one:

True

False

Explanation / Answer

Question 14

There are three stages of strategic management:

the first step would be to formulate a strategy formulation and it is importannt also because one has to see what all resources he has and how can those to harnessed to reach maximum benefit in the currnt external competitive situation. Second in sequence is , strategy implementation and it is important too because now only it could be seen whether a strategy is practically implemetable or not. The last is and strategy evaluationand it is important because he outcomes of the chosen strategy can be assessed.

Answer) TRUE

Question 15

Being "proactive" means more than just taking initiative. It refers to the fact that an individual is well prepared for the possible contingences and also for taking advantage of probable future opportunities. it means that we have to mould our lives as per needs and the we are solely responsible for the choices we make.

Answer) TRUE

Question 16

In order for a firm to achieve sustained competitive advantage, a firm must continually adapt to changes in external trends because the competiotion ois tough and the company which keeps atrack of external trends and adapts itsewlf is easily acceptable. It has to effectively formulate, implement, and evaluate strategies that capitalize upon those factorsbecause that would be the best which could be done with those factors.

Answer) TRUE

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