Exercise 1: BME 302

Name:

Yr and Sec:

Strategic Management Model is a framework of the strategic-management process; a clear and practical approach for formulating, implementing, and evaluating strategy.

• TRUE
• False

Strategies means by which long-term objectives will be achieved.

• TRUE
• FALSE

Intuition is using one's cognition without evident rational thought or analysis.

• TRUE
• FALSE

Short-term objective is the specific results that an organization seeks to achieve (in more than one year) in pursuing its basic vision/mission/strategy.

• TRUE
• FALSE

Short term objective is the mean by which annual objectives will be achieved.

• TRUE
• FALSE

It answer the question what do we want to become.

• a. Mission Statement
• B. Vision Statement
• c. Creed Statement
• d. Sense of Puporse

It is essentially effective in establishing objectives and formulating strategies.

• a. Mission Statement
• b. Vision Statement
• c. Objectives
• d. Shared Vision

The process of developing vision and mission statement should create ____________ between the employees and organization.

• a. Sense of Purpose
• b. Sense of Mission
• c. Sense of Direction
• d. Sense of Togetherness