CHAPTER 3 Flashcards

1
Q

Process of identifying and executing the organization’s strategic plan by matching the company’s capabilities with the demands of environment

A

Strategic Management Process

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2
Q

Step in management process that talk about what an organization wants to achieve and must specific and measurable in terms

A

Setting Objectives (first step)

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3
Q

Step in management process
- Planning is essentially focused on the future, and there are certain events which are expected to affect the policy formation

A

Making basic planning forecasts (second step)

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