The Set of Decisions and Actions Used to Formulate and Implement

question 6

Multiple Choice

The set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals is known as:

• A) strategy formulation.
• B) strategic planning.
• C) strategic management.
• D) strategy implementation.
• E) strategy evaluation.

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Definitions:

Communication Skills

The ability to convey information effectively and efficiently, both verbally and non-verbally, to a range of audiences.

Competitive Skill

A rephrased definition: An attribute or capability that gives an individual or entity an edge over rivals in a competitive environment.

Process Skills

The abilities required to manage and execute processes in an organization efficiently, including planning, monitoring, and optimizing various operational or production processes.

Negotiating Skills

The abilities required to effectively discuss, persuade, and come to mutually beneficial agreements or solutions between parties.