The set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organisation and its environment so as to achieve organisational goals is known as:
A) strategy formulation
B) strategic planning
C) strategic management
D) strategy implementation
E) strategy evaluation.

Question

Quizplus · Accepted Answer

Strategic management involves the entire process of developing and implementing strategies for an organization. It includes strategy formulation, strategic planning, strategy implementation, and strategy evaluation. Strategic management ensures the organization aligns its resources and capabilities with its environment to gain a competitive advantage and achieve its goals. Therefore, the best choice is C - strategic management.

The Set of Decisions and Actions Used to Formulate and Implement