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 formulation and implementation of a 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 involves both formulation and implementation of a full set of commitments, decisions, and actions required for the firm to achieve above-average returns and strategic competitiveness. This process is directed by top-management with input from other stakeholders and seeks to achieve above-average returns for investors through effective use of the organization's resources. Option A, B, and C are not comprehensive enough to describe the entire strategic management process.

The Strategic Management Process Is;