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What are the key elements of strategy? (tick all relevant)

• Sustainability.

• Competitive Advantage.

• Alignment with its environment.

• Process development to deliver the strategy.

• Adding of value.

What are the different approaches to the strategic management process?

• The Prescriptive approach & electric strategic approach.

• The Prewritten approach & emergent strategic approach.

• The Prescriptive approach & emergent strategic approach.

• The Prescriptive approach & emergent tactical approach.

Name the 2 groups of benefits for strategic management.

• General & supportive benefits.

• Financial benefits, & Non-financial benefits.

• Long-term & short-term benefits.

Name a risk of Strategic Management.

• Poor time management.

• Good responsibilities.

• Attained expectations.

• The positive perception of strategic management.

Strategic direction encompasses what 4 aspects?

• Strategic intent.

• Tactical goals.

• Mission Statement.

• Core values.

• Vision.

Why are core values important?

• Behaviour is not congruent with values.

• It does not guide employees in decision-making.

• It is easy to follow.

• It creates consistency & guidance.

The SWOT Analysis is:

• Strength, Weaknesses (External). Opportunities, Threats (Internal).

• Strength, Weaknesses (Internal). Opportunities, Threats (External).

• Opportunities, Weaknesses (Internal). Strength, Threats (External).

• Opportunities, Weaknesses (External). Strength, Threats (Internal).

What are the 3 aspects of Internal Analysis?

• Resources, capabilities, & core competencies.

• Research, capabilities, & core competencies.

• Research, consistency, & core competencies.

Tick the 3 Methods/ Approaches to Internal Analysis.

• Resource-based View.

• Research-based approach

• Value Chain Analysis.

• Supply-chain research.

• Functional Approach.

What are The Four Stages of Strategy?

• Environmental analysis, Strategy formulation, Implementation phase, & Strategy review and evaluation.

• Economic analysis, Strategy formulation, Introduction phase, & Strategy review and evaluation.

• Environmental analysis, Tactical formulation, Implementation phase, & Strategy interest and evaluation.

• Environmental introduction, Strategy formulation, Implementation stage, & Tacticalreview and evaluation.