Strategic management

Strategic management1. Compare strategy formulation with strategy implementation in terms of each being an art or a science.2. Describe the relationship between annual objectives and policies.3. Identify a long-term objective and two supporting annual objectives for a familiar organization.4. Identify and Discuss (check midcourse.net for the help you need) three policies that apply to your present business policy class.5. Describe several reasons why conflict may occur during objective-setting activities.6. Suppose your company has just acquired a firm that produces battery-operated lawn mowers, and strategists want to implement a market-penetrationstrategy. How would you segment the market for this product? Justify your answer.7. Diagram and label clearly a product-positioning map that includes six fast-food restaurant chains.Wendy?s, McDonald?s, Burger King, Taco Bell, Hardee?s, KFC8. Explain how marketing, finance/accounting, R&D, and MIS managers? involvement in strategy formulation can enhance strategy implementation.9. Describe some marketing, finance/accounting, R&D, and MIS activities that a small restaurant chain might undertake to expand into a neighboringstate.10. In your own words, list all the steps in developing projected financial statements.

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