As Part of the Strategic Management Process, Strategy Formulation Involves

question 217

True/False

As part of the strategic management process, strategy formulation involves identifying and analyzing the existing mission, objectives, and strategies; analyzing the industry and external environment as well as organizational resources and capabilities; and revising the mission and objectives and selecting new strategies.

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Definitions:

Institutional Racism

"The manipulation of social institutions to give preferences and advantages to Whites and at the same time restrict the choices, rights, mobility, and access of people of color."

Accountability

The obligation of an individual or organization to account for its activities, accept responsibility for them, and to disclose the results in a transparent manner.

Institutional Racism

A system of policies and practices entrenched in established institutions, which result in the unfair disadvantage to individuals or groups based on race.

Cultural Competency

The ability to understand, appreciate, and interact effectively with people from different cultures.