University of Phoenix MGT 498 Strategic Management Study Guides and Answers
University of Phoenix
MGT 498 Strategic Management Study Guides and Answers
This course gives students the opportunity to integrate management concepts and practices to contemporary business strategies, while discussing the theories of strategic management. This course will focus on improving management decision-making and problem-solving skills. Students will create a strategic management plan. Special emphasis is placed on business ethics, sustainability, innovation, and the legal environment of business.
Strategic Overview, Ethics and Legal Environment
Indicate why a strategic management process is needed.
Describe the primary components of the strategic management process.
Explain the relationship of ethics, social responsibility, and corporate performance in strategic planning.
Competition Strategy Formulation
Measure an organization’s internal and external environments using environmental scanning.
Determine relevant business competitive strategies.
Analyze how to create value and sustained competitive advantage through business strategy.
Choose measurement guidelines to verify strategy effectiveness.
Innovation, Sustainability, and the Global Market
Estimate the sustainability of long-term business operations.
Explain how the global market affects business strategy.
Construct a long-term strategic management plan for sustaining organizational performance.
Analyze internal organizational dynamics and the influence on business continuity.
Describe cultural, structural, leadership considerations that must be incorporated into strategy implementation.
Determine the resources needed for strategy implementation.
Strategic Plan Evaluation, Control, and Feedback
Arrange the appropriate controls, performance measures, and feedback systems to use for various business scenarios.
Evaluate the application of a deliberate plan and make necessary adjustments to continuous improvement and crisis management scenarios.
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