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 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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