A vision statement should answer which of these questions?

Select one:

a.

What are our challenges?

b.

What is our business?

c.

Who are our competitors?

d.

What do we want to become?

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Collecting and analyzing information on competitors is important for successful

Select one:

a.

strategy correction.

b.

strategy formulation.

c.

strategy evaluation.

d.

strategy implementation.

e.

internal analysis.

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The main objective of engaging in strategic management is to

Select one:

a.

achieve and maintain competitive advantage.

b.

eliminate and abolish competitive advantage.

c.

maintain competitive advantage.

d.

achieve competitive advantage.

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A vision statement is, for all intent and purpose, an organisation's game plan.

Select one:

True

False

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An external analysis focuses on identifying and evaluating trends and events within the control of management.

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True

False

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Given the functions of management, which includes areas such as job design, job specifications, job analysis, and unity of command?

Select one:

a.

Controlling

b.

Planning

c.

Staffing

d.

Organizing