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Bovenkant formulier
1 | What is the essential difference between strategy formulation and strategic management? |
| Strategy formulation is the ultimate goal, strategic management the means to that end. |
| Unlike strategy formulation, strategic management also addresses the issue of how to implement strategic choices. |
| Strategic management has a more external focus; strategic formulation is more focussed on the organization itself. |
| Strategy formulation is more limited than strategic management, which encompasses the actual preparation and the making of strategic choices. |
Onderkant formulier
This is not the correct answer
Strategic management is always directed both at the external and the internal environments; strategy formulation is directed solely at the external environment.
See introduction
Your answer
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Bovenkant formulier
2 | What sort of strategy is important for companies such as Philips and General Electric to have? |
| a strategy at the corporate level as well as at the business level |
| exclusively a business strategy |
| neither a strategy at the corporate level nor a business strategy |
| exclusively a strategy at the corporate level |
Onderkant formulier
This is not the correct answer
Large organizations such as Philips and General Electric need to make choices at the business level as well as at the corporate level. At the business level, it is important that there be a good strategy to cover existing activities, and at the corporate level, decisions need to be made about which businesses should be given an additional injection of funds, which should be consolidated and which phased out or sold. Both types of strategy are necessary for organizations like these. (See subsection 4.1.2.)
See section 4.1
Your answer
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Bovenkant formulier
3 |...