A mission statement is usually just a simple statement of specific details.
Strategic-management must be a self-reflective learning process that familiarizes
managers and employees in the organization with key strategic issues and feasible
alternatives for resolving those issues.
Both military and business strategy are formulated, implemented, and evaluated with an
assumption of competition.
Financial ratio analysis really should not go beyond the actual calculation and
interpretation of ratios.
The only costs involved in going public are the initial costs.
The IE Matrix can be divided into three major regions that have different strategy
implications: grow and build, hold and maintain, and harvest or divest.
In an EFE Matrix, opportunities often receive higher weights than threats, but threats
too can receive high weights if they are especially severe or threatening.
Attracting customers is a major reason for developing a mission statement.
Once an effective strategy is designed, modifications are rarely required.
A limitation of financial budgets is that they can hide inefficiencies if based solely on
precedent rather than on periodic evaluation of circumstances and standards.
A frequently used tool in strategy evaluation is the audit.
The midpoint on the x-axis of a BCG Matrix is typically set at 0.05.
While the number of people shopping online has increased, the average amount spent
online has decreased.
The four strategies of the SPACE Matrix are aggressive, conservative, offensive and
defensive.
Measuring organizational performance includes comparing expected results to actual
results, investigating deviations from plans, evaluating individual performance, and
examining progress being made toward meeting stated objectives.