The Following Problems Have Occurred at Your Company: Management Seems

question 62

Multiple Choice

The following problems have occurred at your company: management seems to be making decisions based on guesses and intuition, there's a lack of clarity concerning direction and goals, and profitable opportunities are being missed.What is your company suffering from?

• A)A lack of strategic information; management has not determined its strategic competitive position.
• B)Managers have too much information.
• C)The company is not familiar with business reengineering and value chain analysis.
• D)The company has an inappropriate mission statement.

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Definitions:

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale.

S.T.E.P. Approach

A strategic planning model that stands for Social, Technological, Economic, and Political - considering these factors when analyzing external environments for strategic planning.

Open-Book Management

A management strategy where employees are provided with company financial information to involve them in decision-making processes.

Share

An individual portion of a company's capital, represented by a stock, that entitles its holder to a proportion of the corporation's earnings and assets.