SM QUIZ

• Strategic management is considered the CAPSTONE course of all management and business subjects
• Business policy refers to the process of defining the LONG-TERM GOALS of a company as determined by the members of the top-level management
• During this early phase, top-level managers simply require different departments and functional areas to PREPARE BUDGETS AND TARGETS based information generated within the company.
• The commonly used strategic management tool when practicing environmental monitoring is TREND ANALYSIS
• The SOCIETAL ENVIRONMENT of a company consists of political or legal, economic, sociocultural and technological factors.
• The primary objective of an INDUSTRY ENVIRONMENT ANALYSIS is to determine the different factors that influence competition so that a company can correctly position itself for continued growth and existence.
• A well-defined ORGANIZATIONAL STRUCTURE exhibits an effect flow of information, a well-defined control and monitoring system, and a clearly patterned chair command.
• It was popularized by MICHAEL FORTES a prominent figure in competitive strategy formulation.
• The SOCIOCULTURAL SEGMENT refers to the customs, traditions, values, beliefs, and lifestyles in a society for a period of time
• This TECHNOLOGICAL SEGMENT can make a product obsolete overnight and, at the same time, provide opportunities for creating new products in a short period of time.
• An internal environment analysis identifies a company’s internal strategic factors, such as STRENGTH AND WEAKNESSES, to enable it to exploit opportunities and avoid threats of the external environment.
• The commonly used strategic management tool to conduct a societal environment analysis is the STEEP or PESTEL analysis
• They involve gathering reliable and relevant information that serves as input in the formulation of a FORECAST
• Creditors refer to banks, financial institutions, and FINANCIAL INTERMEDIARIES engaged in lending money to a borrower, usually for a fee in the form of interest.
• The last stage in the evaluation of a company's internal environment is to define its present status in terms of PROFITABILITY AND MARKET SHARE performance.
• When the demand for a product or service starts to increase, the embryonic industry evolves to the next stage, which is the GROWTH INDUSTRY.
• One of the best ways to assess CORPORATE CULTURE is to determine the present state of the individual or employee, the group or functional unit, and the entirety of a company.
• MIDTERM_STRAT MAN