In Forming Strategy,senior Management Must First Thoroughly Understand the Organisation

question 114

True/False

In forming strategy,senior management must first thoroughly understand the organisation and its environment.

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Definitions:

Negative Effects

Detrimental or adverse outcomes resulting from an action, condition, or decision.

Organizational Performance

An assessment of a firm's effectiveness in reaching its goals, typically considering factors like profitability, efficiency, and market share.

Determinants

Factors or variables that causally influence outcomes or conditions in a predictable way.

Leaders

Individuals who guide, direct, or influence people, setting a direction for the group and motivating others towards achieving goals.