The strategic management process is:
A) A set of activities that will assure a sustainable competitive advantage and above-average returns for the firm
B) A decision-making activity concerned with a firm's internal resources, capabilities, and competencies, independent of the conditions in its external environment
C) A process directed by top-management with input from other stakeholders that seeks to achieve above-average returns for investors through effective use of the organization's resources
D) The full set of commitments, decisions, and actions required for the firm to achieve above-average returns and strategic competitiveness

Question

Quizplus · Accepted Answer

The strategic management process is the full set of commitments, decisions, and actions required to achieve above-average returns and strategic competitiveness, which includes both internal and external factors. Option A is too narrow in its focus on just competitive advantage and returns, while option B is too narrow in its focus on just internal resources. Option C is also too narrow and only mentions the interests of investors, rather than all stakeholders.

The Strategic Management Process Is