Which of the Following Is Not One of the Benefits

question 52

Multiple Choice

Which of the following is not one of the benefits of strategic management described by Greenley?

• A)It provides an objective view of management problems.
• B)It maximizes the effects of adverse conditions and changes.
• C)It creates a framework for internal communication among personnel.
• D)It gives a degree of discipline and formality to the management of a business.
• E)It encourages a favorable attitude toward change.

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Definitions:

Invisible Hand

A metaphor introduced by Adam Smith to describe the self-regulating behavior of the marketplace, where individual self-interests unintentionally benefit society.

Adam Smith

An 18th-century Scottish economist and philosopher, best known for his theories on capitalism and the invisible hand of the market.

Free Market

A system of voluntary exchange in which every agent is free to produce, buy, and sell “as the market will bear,” without interference or standards set by any outside authority.

Economic Arrangements

The structured and systemic ways in which economic activities and resources are organized, distributed, and managed within a society or between entities.