Strategic Management

3. the ___ part of a strategic plan should be vivid and build a sense of the future.
5. the second step of Strategic management process is the analysis of company 's ____
8. The highest level of strategic decision making is occupied by _____ level
9. ___ is an expanded version of PEST analysis and adds 2 factors - legal and environmental factors.
11. who are responsible to establish and update the company's mission.
14. strategies which specify the outcomes from daily operations of specific departments are made at this level.
15. the statement stating the unique purpose that sets a company apart from other business units.
18. one of the major advantage of strategic management is to create a ____ management posture.
19. At business level strategy, each business is a self contained division known as -
21. it is a form of applied ethics that guides a business and its activities.

1. a well defined strategy ensures _____ of resources in a rapidly changing environment
2. the important function of strategic management is ____ of new products and new geographies
4. individuals or groups who are primarily involved in the formulation, implementation and evaluation of strategy.
6. he is the person who assists the chief executive in the performance of his duties.
7. the art and science of formulation, implementing and evaluating decisions to achieve objectives
10. the guiding rules or principles that are regarded as an integral part of company's success.
12. the step that involves development of long range plans and strategic alternatives is strategic ____
13. complying to business ethics helps the firm in creation of ___ with public and employees.
16. it is the determination of course of action and allocation of resources to achieve goals.
17. the 'T' in STP stands for
20. the analysis tool used to identify new opportunities and threats of a firm.