First chapter

Question 1

strategy definition

Answer 1

The strategy is a unifying theme that gives coherence and direction to the actions and decisions of an individual or an organization

Question 2

Strategic management

Answer 2

Strategic management focuses on integrating management, marketing, finance and
accounting, production and operations, research and development, and information systems to
achieve organizational success

Question 3

strategy-formulation issue

Answer 3

The decision to expand or diversify operations

Question 4

Strategy implementation

Answer 4

considered to be the most difficult stage in the
strategic-management process because it requires personal discipline, commitment, and
sacrifice.

Question 5

One of the fundamental strategy evaluation activities is reviewing external and internal factors that are the basis for current strategies.

Answer 5

is reviewing external and internal factors that are the basis for current strategies.

Question 6

The strategic-management process.

Answer 6

An objective, logical, systematic approach for making major decisions in an organization