Integral Parts of the Managerial Process of Crafting and Executing

question 23

Multiple Choice

Integral parts of the managerial process of crafting and executing strategy include

• A)developing a strategic vision, strategic management, and crafting a strategy.
• B)developing a proven business model, deciding on the company's strategic intent, and crafting a strategy.
• C)strategic management, crafting a strategy, implementing and executing the chosen strategy, and deciding how much of the company's resources to employ in the pursuit of sustainable competitive advantage.
• D)coming up with a statement of the company's mission and purpose, strategic management, choosing what business approaches to employ, selecting a business model, and monitoring developments.
• E)deciding on the company's strategic intent, setting financial objectives, crafting a strategy, and choosing what business approaches and operating practices to employ.

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Definitions:

Research Process

A systematic series of actions or steps undertaken to obtain new knowledge or to verify existing knowledge, typically involving hypothesis formulation, data collection, and analysis.

Research Findings

Research findings refer to the outcomes or conclusions drawn from scientific studies based on data collection and analysis.

Linear Association

A relationship between two variables that can be represented with a straight line on a graph.

Correlation Coefficient

A number between –1 and +1 that reflects the degree to which one variable, traditionally called y, is a linear function of another, traditionally called x. A negative correlation means that as x goes up, y goes down; a positive correlation means that as x goes up, so does y; a zero correlation means that x and y are unrelated.