Determining the strategic direction of a firm involves:

Question

Quizplus · Accepted Answer

Determining the strategic direction of a firm involves specifying the vision and the strategy to achieve that vision over time. This includes identifying the company's goals, objectives, and priorities for the future.

Option A (implementation of a balanced scorecard) is a tool that organizations can use to measure and track progress towards achieving their strategic goals, but it is not the process of determining the strategic direction itself.

Option B (developing an entrepreneurial mindset) may be important for leaders and employees within the organization, but it is not necessarily a step in determining the overall strategic direction of the firm.

Option D (exploiting and maintaining core competencies) is a key aspect of executing a successful strategy, but it is not the whole process of determining strategic direction.

Determining the Strategic Direction of a Firm Involves