1 – Assessment
6 individual questions – 3 @ 75 words each and 3 @ 200 words each. Book Chapter 1 will be attached. No outside sources. Only use book for sources.
1. What is the difference between long-range planning and strategic planning? Explain your answer. Your response should be at least 75 words in length.
2. Describe the strategic management process, and include how it is used by organizations.
Your response should be at least 75 words in length.
3. Are “strategic management” and “strategic planning” synonymous terms? Explain.
Your response should be at least 75 words in length.
4. Within this unit, we discussed how businesses may need to adapt to changing times in order to stay competitive. Their initial practices may have worked well previously, but may not serve them well in the long term. The newspaper industry is one that may face extinction. Explain why they may need to rethink their business strategy, and provide some advice on possible strategic management changes. Be specific to include goals/objects, strengths, and weaknesses.
Your response should be at least 200 words in length.
5. Colleges and universities, like all business, have strengths, weaknesses, and competitors. What would you consider to be an online university’s internal strengths and weaknesses? Why? Also, who would you say are the competitors to online universities? What are three external opportunities and three external threats? Your response should be at least 200 words in length.
6. Some who study business may not become chief executive officers (CEOs) or work in upper management, so it is important to understand why strategic management matters to all members and layers of an organization. Considering this, why might strategic management be important to your field of study or chosen profession? Your response should be at least 200 words in length.
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