Q141
The strategic management process is
A.
a set of activities that is guaranteed to prevent organizational failure
B.
a process concerned with a firms resources, capabilities, and competencies, but not the conditions in its external environment
C.
a set of activities that to date have not been used successfully in the not-for-profit sector
D.
a dynamic process involving the full set of commitments, decisions, and actions related to the firm
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
The strategic management process is a dynamic process involving the full set of commitments, decisions, and actions related to the firm. The term ‘strategic management’ is used to denote a branch of management that is concerned with the development of strategic vision, setting out objectives, formulating and implementing strategies and introducing corrective measures for the deviations (if any) to reach the organization’s strategic intent.