Learning Path
Question & Answer
Choose the Best Answer
Using a SWOT analysis to evaluate strengths and weaknesses
Choosing the strategy that requires the least resources
Selecting the most popular strategy within the industry
Ignoring long-term implications to focus on short-term gains
Understanding the Answer
Let's break down why this is correct
Using a SWOT analysis lets a company look at what it does well (strengths) and where it could improve (weaknesses) while also spotting outside chances (opportunities) and dangers (threats). Other options are incorrect because The misconception is that the cheapest strategy is best; Many think the most popular strategy will work for everyone, but trends don’t fit every company.
Key Concepts
Strategic Decision-Making
easy level question
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Deep Dive: Strategic Decision-Making
Master the fundamentals
Definition
Strategic decision-making involves evaluating alternatives and selecting the best course of action to achieve organizational goals. It requires analyzing data, forecasting outcomes, and considering long-term implications. Effective strategic decision-making is essential for sustainable growth and competitive advantage.
Topic Definition
Strategic decision-making involves evaluating alternatives and selecting the best course of action to achieve organizational goals. It requires analyzing data, forecasting outcomes, and considering long-term implications. Effective strategic decision-making is essential for sustainable growth and competitive advantage.
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