The Four Key Attributes of Strategic Management Include All of the Following

question 77

Multiple Choice

The four key attributes of strategic management include all of the following, except

• A) Strategic management should include multiple stakeholder interests in decision making.
• B) Strategic management should incorporate both short-term and long-term perspectives.
• C) Strategic management should recognize the trade-off between effectiveness and efficiency.
• D) Strategic management should emphasize the attainment of short-term objectives.

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Definitions:

Customer Expectations

The set of assumptions or standards held by customers regarding the quality, service, performance, and value of a product or service that they plan to purchase.

Customer Satisfaction

The measure of how products or services supplied by a company meet or exceed customer expectation.

Supplemental Products

Additional items or services offered to complement or enhance the primary product.

Core Benefits

The fundamental value or primary advantage that a consumer receives from a product or service.