In one of the definitions used by Pearce and Robinson, Strategic management was described as the “art and science of formulating, implementing and evaluating crossfunctional decisions aimed at achieving organizational goals”; Briefly discuss the context in which strategic management could be described as ‘an art’ and when it also could be described as ‘a science’. b. Describe the strategy formulation process; clearly explaining three major activities that are undertaken at this stage? c. Distinguish between business level strategies and corporate level strategies; clearly giving examples under each. d. Differentiate between strategy and tactics
Strategic Management is a discipline that requires the continuous interrelationship among various
functional managers. As a business strategy Management Trainee you are required to answer the
following questions by supporting each response to detailed examples.
Required:
a. In one of the definitions used by Pearce and Robinson, Strategic management was
described as the “art and science of formulating, implementing and evaluating crossfunctional decisions aimed at achieving organizational goals”; Briefly discuss the context
in which strategic management could be described as ‘an art’ and when it also could be
described as ‘a science’.
b. Describe the strategy formulation process; clearly explaining three major activities that
are undertaken at this stage?
c. Distinguish between business level strategies and corporate level strategies; clearly
giving examples under each.
d. Differentiate between strategy and tactics
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