2. Research suggests that strategic management evolves through four sequential phases in corporations. The first phase is A) forecast-based planning. B) strategic management. C) externally oriented planning. D) basic financial planning. E) internally oriented planning.

3. A difference between basic financial planning and forecast-based planning is A) the time horizon is shorter in forecast-based planning. B) basic financial planning relies heavily on input from lower levels in the organization. C) basic financial planning utilizes scenarios and contingency strategies. D) basic financial planning utilizes consultants with sophisticated techniques. E) forecast-based planning incorporates environmental data and extrapolates current trends .

4. Strategic management is the set of managerial decisions that determines the short-term performance of a corporation. T or F