CHAPTER 1 Basic Concepts in Business Policy and Strategy

I. Identification
__________1. A set of managerial decisions and actions that determines the long-run performance of a firm →
Includes environmental scanning, strategy implementation, and evaluation and control.
__________2. This involves the development of company strategies.
__________3. Includes employee interactions with one another regardless of rank.
__________4. Strategies related to the techniques in competing in a certain industry/
__________5. Provides information necessary to formulate the company’s vision/mission statement.
__________6. The company must identify the __ and ____ of its competitors; thus formulate strategies to gain ____.
__________7. Short-term strategies and are associated with the various operational departments of the company
__________8. Various operational departments of the company.
__________9. Comprises of customers, suppliers, creditors, and competitors.
__________10. These strategies deal with establishing competitive strength against competitors.
__________11. Solidify all other strategies that will result to overall organizational performance
__________12. Three organizational levels of strategy formulation.
__________13. 4 definition of Competitive advantage
__________14. Built on the belief that continuous improvement means the company wants to maintain and retain
its customer, no brand switching.
__________15. Includes all the decisions and actions set by the managers and provides a gauge on the
performance of a particular organization.
__________16. Achieved when the company always anticipates what the customer wants and needs.
__________17. It involves scanning and evaluating the organization, which also includes the external environment.
__________18. Involves the development of procedures, programs and activities to put the strategies into practice
__________19. Long-term and are involved in providing direction for the organization.
__________20. Behavior is observed through _______ and __________.
__________21. The time to determine which strategies should be implemented first.
__________22. Arrest potential hazards like communication of the strategies to be implemeneted.
__________23. Tantamount to superior quality wherein a customer would pick out a particular brand and no other,
because of the belief that a particular brand provides excellent performance.
__________24. Outlines how an organization formulates, implements, and evaluates systems and processes for
efficient and effective company performance.
__________25. Includes appraising the company’s perfoamnce.
__________26. Set of processes and structures
__________27. It means that the product or service provides efficiency on the part of the company producing the
product/service.
__________28. The environment is observed internally on the _________
__________29. All employees are involved in ________.
__________30. 4 Planning phases
__________31.Usually the phase when financial data is planned.
__________32. Budget data come from _______
__________33. A strategic management in context although it generally serves primarily on integrating various
functional activities.
__________34. The essence of ______ is to be able to improve both operational and competitive strategies.
__________35. The timeline is usually _____ year
__________36. In planning financial aspects, there is no ____________
__________37. Long-term planning, ____ plans are made.
__________38. Include environmental scanning.
__________39. The integrated internalization of markets and corporations → Companies expanding all over the
world
__________40. Third phase is usually the task of ___________.
__________41. Lower level managers are hands off in this phase and only come into the picture during
implementation.
__________42. How employees interact with each other, how relationships are formed and enhanced
__________43. In this phase, strategies formulated will be worthless without the commitment of all employees.
__________44. There is always a ______ or thinking all throughout the organization.
__________45. Internationalization of markets and corporations
__________46. Detailed versions of phase 3.
__________47. Majority shares of Jollibee in San Pin Wang.
__________48. Jollibee branch in China.
__________49. Majority shares of Jollibee in Mang Inasal.
__________50. Stores of Jollibee nationwide
Jollibee, Chowking, Greenwich, Red Ribbon, Delifrance, Manong Pepes

__________1. Various uses of the internet in conducting business transactions,

__________2. Proposes that organizations can and do adapt to changing conditions by imitating other successful
organizations.
__________3. An organization adjusts defensively to a changing environment and uses knowledge offensively to
improve the fit between itself and its environment.
__________4. A company is able to take hold of a formidable position in the industry, the tendency is for the
company not to adapt to changing conditions
__________5. This is now the process of getting the rudiments of strategies in detail.
__________6. Focuses on the more obvious and important aspects of the social structure which form the basis for
social behavior.
__________7. 3 important aspects of the social structure
__________8. Theorizes that an organization not only adapts to a changing environment but also tries to reshape its
environment
__________9. Once an organization is successfully established in a particular environmental niche, it is unable to
adapt to changing conditions
__________10. Uses knowledge as an important component for the company to respond in a changing environment
__________11. Includes all levels in the company to provide strategies in all aspects of the company’s existence.
__________12. Goes one step further by proposing that not only do organizations adapt to a changing environment
but they also have the opportunity and power to reshape their environment
__________13. Focuses on the processing and preparation and interpretation of these processes to respond to both
external and internal forces in the organization
__________14. Includes the experience of people at work and their relevance to organizational performance
__________15. Provides flexible scenarios and the accompanying contingent measures
__________16. It is not simple the simply the population that makes a country on the competitive edge, but the
steady supply of ____________ is what counts.
__________17. Institutional environment influences the organization’s policies, rules, norms, among others
__________18. People who have the skills and expertise to put their knowledge into products and services, and
convert their skills to practice
__________19. World economy in the age of globalization continues to be highly competitive. The changes
___________ are predictable.
__________20. Assumes that a business becomes obsolete when the business goals are already attained
__________21. Proposed the theory of business
__________22. Company should formulate objectives based on what the environment dictates.
__________23. Deals with uncertainties and strikes a balance between decisions to be made today and leave some,
if needed in the future.
__________24. Should fit in with the company’s mission and the environment
__________25. Business should not only concentrate on the customers but also ________
__________26. Top 10 global brands, Next top 10 global brands
__________27. 3 characteristics consumers associate global brands with
__________28. Coca-cola is already __ years old and has launched more than ____
__________29. IBM received the most US patents for the _ year in a row. _ of its revenue was generated outside the
US
__________30. General electric has the ability to attract consumers using ______
__________31. Common theme of google
__________32. Intel is still the world’s number one __________
__________33. Slowly grabbed the world market in semiconductors, robotics, and biotechnology
__________34. Illustrate the Strategic Management Process
__________35. Corporation headed by John Gokongwei started in ______ that produce ___- and _____. It was then
called _________. Its first product was ____
__________36. In ____, ________ was born. Its first hit was ______
__________37. Provides veterinarian products expanded in the ‘70s with its hog raising
__________38. In 1966, URC expanded its operations with _______. Market leaders:
__________39. In 1996, decided to start an airline. _______ oly ______ in three destinations
__________40. Digital mobile Philippines. Sun cellular. C2.

CHAPTER 2 Environmental Scanning

__________1. 3 important structural features of the market which should be considered by any organizaion
__________2. Consist of government rules and regulations which the organizations follow
__________3. 2 parts of external environment
__________4. 6 stakeholders
__________5. Degree by which a small number of companies dominate a particular market
__________6. Consists of those aspects of the organization that affect the company itself
__________7. Difficulties and challenges by potential new entrants which are entering in the market.
__________8. Process of conducting research through surveys, observation and other methods, and gathering and
analyzing information for the organization
__________9. Degree by which a company is able to distinguish its product or service to other players in the market
as valued by consumers.
__________10. Includes political, legal, economic, sociocultural and technological aspect
__________11. Political environment include - 3
__________12. One of the best management models in environmental scanning
__________13. Uniqueness of the features in a particular brand or service.
__________14. More concentrated number of players =
__________15. More concentrated number of players =
__________16. In a concentrated market, the strategies of one player can have a tremendous impact on the other
player. Thus, the tendency is to engage in ________ or _________
__________17. Assumes that there are five force which may affect a company’s competitive power and position in a
particular environment.
__________18. Who categorized market concentration?
__________19. Low profits for the suppliers and low prices for consumers.
__________20. Ability to innovate and develop a certain position, totally distinct from other brands.
__________21. Explains a number of companies which are competing in the market
__________22. Competition is so high that a new player will have a hard time entering a chosen industry.
__________23. There are many seller with a low level of interaction to one another.
__________24. Products that are highly identical
__________25. Provide decisions on what to expect and whether it is possible to enter the market at this time of in a
particular period or season.
__________26. Wet market
__________27. Mall
__________28. Predicts for new entries on how to enter the market
__________29. Sari-sari store
__________30. There are products differentiated by design, quality, branding, among others.
__________31. One seller who dominates the market
__________32. These are branded products with distinctions on features, design, and quality.
__________33. Few large sellers have a high level of interaction with one another
__________34. There is absence of economies of scale because firms are so numerous and they cannot set their
own prices.
__________35. The characteristics of the product are not differentiated from one supplier to another
__________36. Players can set their own prices, and competition is somewhat fierce.
__________37. Unique characteristics connote a certain price.
__________38. Company can dictate its own price
__________39. There are minimal barriers to entry and if there are, they are manageable.
__________40. Tantamount to perfect competition,
__________41. Sellers may monopolize the market
__________42. Certain features which differentiate them from one another.
__________43. There are barriers that are too high which potential players cannot enter.
__________44. 6 power of buyers
__________45. The present companies monopolize the prices.
__________46. Companies can sell products that are differentiated from one another
__________47. 6 rivalry of competitors
__________48. No difficulty in entering the market.
__________49. Illustrate the five forces model.
__________50. There are barriers but not too difficult for sellers to monopolize the market
__________1. 5 power of suppliers
__________2. 2 threats if substitutes
__________3. One of the threats right now
__________4. More concerned with doing the right thing, than doing the thing right
__________5. Anything that would help competing in the market
__________6. Being able to understand the competitor’s future prospects and goals
__________7. 6 threat of new entrants
__________8. 3 major areas of competitive intelligence
__________9. A small-scale intelligence and operational in the short run
__________10. Knowing how to defend company secrets
__________11. Cheaper substitute to an actual process, a high priced software or employment of high caliber
personnel
__________12. A basic straightforward model in environmental scanning which helps the company in identifying four
elements:
__________13. The company evaluates its own strengths in terms of its own ______
__________14. Act of gathering, analyzing, and distributing vast information
__________15. As a company identifies its weaknesses, they are _______ and ________
__________16. Include the competitors’ major customers and suppliers.
__________17. In order to be successful, a SWOT analysis takes note of the changes in the ____, ____, ____, and
_____
__________18. 3 approaches of competitive intelligence
__________19. Fast becoming a business opportunity in high proportions
__________20. Product of cost-cutting measures which has become an opportunity for some emerging companies.
__________21. Founder of Bench under ___________ corporation
__________22. In _____ opened its first fashion store in ___________
__________23. It focuses on the firm’s internal environments as well as its ability in attracting and dealing with
costumers.
__________24. It identifies the company’s possible risk before the company makes an important decision.
__________25. Includes the competitors’ terms of sale, pricing policies, and plans
__________26. Suyen corporation has diversified to ______ and ______
__________27. Started ____ in SM department stores
__________28. An art gallery
__________29. A modern furniture store
__________30. Primary location of bench

CHAPTER 3 Strategy Formulation

__________1. Explains the company’s philosophy such as the aspirations, beliefs, and principles of the firm
__________2. What the company wants to become in the future.
__________3. Both identify the direction of the company.
__________4. Summarizes the purpose or the reason for the company’s existence
__________5. To ____ is to be aware of what the competitors are doing.
__________6. Visualizes the company’s future and takes a glimpse of what the organization will be like in a certain
period.
__________7. Formulating competitive strategies means building ____________
__________8. The legendary former CEO of GE discussed Strategy Stretching.
__________9. Tells what the company is now and what it is doing at the present.
__________10. The five power Ps
__________11. Competitive edge, a following of some sort that a company should not allow competitor to surpass.
__________12. Probability of the success element of a particular strategy.
__________13. It tells what types of customers are being served, how the company does its products or services and
its desired level of performance.
__________14. Effective implementation of a particular strategy
__________15. Excellent performance relates to _________.
__________16. Creation of a prolonged, unique strategy that will be difficult for competitors to be neither duplicated
nor surpassed.
__________17. 3 basic competitive approaches in strategic management of Michael porter.
__________18. They reflect who the owners are, how they do business, who their customers are, and in what
direction they want the company to go into.
__________19. Concentrates on keeping costs low.
__________20. Serves as a challenge for the company
__________21. Includes adaptive methods.
__________22. 2 power strategies
__________23. Defines the product or services offered and the types of consumers served.
__________24. Strategy of the company to expand its business into different products that are similar to current
lines.
__________25. Strategy of a company to control the direct distribution of its products.
__________26. Means being competitor-oriented.
__________27. Strategy of a company to purchase the suppliers in order to reduce dependency
__________28. The advantage that an organization gains in the hands of the consumers.
__________29. Doing the best possible strategy and beyond.
__________30. Lays down the foundation for the formulation of the mission statement.
__________31. Specializing or concentrating in a particular market segment.
__________32. The __________ preclude to the mission statement.
__________33. Right time for a strategy to work.
__________34. Position that a company should not allow to be snatched by its competitors.
__________35. Answer the question of the firm’s competitiveness and its responsibility to the community or society
at large.
__________36. The company makes its products or services unique and distinct.
__________37. Differentiate the company from its competitors.
__________38. They discussed the need for a company to a constantly changing competitive environment.
__________39. 3 approaches in creating a competitive strategy
__________40. Help in defining the parameters by which managers formulate their strategic plans
__________41. 5 characteristics of potential
__________42. Product or service is better than the capabilities of competitors.
__________43. Becomes the company’s inspiration and establishes the framework of action plants to realize it.
__________44. Product or service cannot easily be copied by competitors.
__________45. Product or service can be transformed into something highly valued by customers.
__________46. Product or service cannot be replaced through substitution by competitors.
__________47. Vision answers the question:
__________48. Risky because both the product and market are untested yet.
__________49. Development of new market for existing products and services.
__________50. Sets the direction of the organization’s plans
__________1. It can be in the form of export or tapping an unexplored segment of the market.
__________2. Requires some form of creativity or ingenuity to develop new products. Costly.
__________3. Product or service does not deteriorate or depreciate quickly.
__________4. The desire to achieve greater percentage of the market share through the company’s existing
products in existing markets.
__________5. System that measure the organization’s progress in accomplishing its strategic objectives.
__________6. They developed the balance scorecard which incorporates financial indicators
__________7. 4 processes of a balanced scorecard in order to put short-term activities in the long-term objectives
__________8. Needs the consensus of the management team.
__________9. Done by making improvements through the product’s packaging and expanding its distribution
channels.
__________10. Based on innovation and at the same time exploration of new market opportunities.
__________11. Market penetration is also the development of ______ and ______.
__________12. A direct conversion of strategic objectives into measureable quantifiable terms.
__________13. Development of new products to existing markets.
__________14. 4 growth strategies
__________15. Strategic planning system that is now used extensively by different types of organizations worldwide
__________16. Development of new products for new market.
__________17. Also helps in predicting what should be done and measured in the future.
__________18. Based on making vast improvements in its present products or services.
__________19. Purpose of _________ is to align the company’s vision and strategies to the activities of the
organization.
__________20. Product development needs ______ and ______ to adapt the products in existing market until they
achieve market success.
__________21. Enables management to link the perspectives and how they affect each other.
__________22. Making attempts to copy and thereby make improvements in the success of product or service
offering provided by the competition.
__________23. Targets are set and efforts are aligned to reach the planned targets.
__________24. 4 implementing strategies of a balanced scorecard in order to put short-term activities in the long-
term objectives
__________25. Includes financial measure:
__________26. It measures the flow of funds in a timely and consistent manner.
__________27. Customer perspective includes:
__________28. Designed to indicate the meeting of customer needs.
__________29. Includes procurement of materials, production, and order fulfillment.
__________30. Defines the business process
__________31. Emphasized learning as an everyday thing
__________32. Focus on customer satisfaction.
__________33. Shapes mentoring, communicating, and performing outstanding work.
__________34. Learning and growth perspective includes:
__________35. Set of decisions that guides the company to sustain a competitive advantage in the industry where it
chooses to compete.
__________36. Most important decision managers make
__________37. Most admired company in the Philippines.
__________38. Jollibee has _____ stores including ____ overseas
__________39.Top 10 most admired companies
__________40. Includes measures of employee satisfaction and retention
__________41. Founded national bookstore
__________42. She worked as a salesgirl in _____
__________43. Based on the EFQM
__________44. 5 enablers
__________45. Only achieved if there is harmony between enablers and results.
__________46. 8 fundamental concepts that characterize business excellence
__________47. Satisfaction of all the stakeholders in the organization.
__________48. Represents standard frameworks that organizations can use to focus their actions and strategies for
increased performance.
__________49. Set of outstanding practices that organizations should follow based on 8 fundamental concepts
__________50. 8 fundamental concepts
__________1. Most popular business model launch in US
__________2. Models are developed out of the combined concepts in:
__________3. Main concept of Baldrige Criteria
__________4. Used by mane award-giving bodies in Europe
__________5. Used by Singapore in assessing its organizations to find out if they are meeting the highest quality
standards of performance.
__________6. Main concepts of SQAW
__________7. Run by the national quality institute of Canada for the country’s organizations
__________8. Monitors the organization in Australia

CHAPTER 4 Strategy Implementation

__________1. Manager defines it as a strategic goal
__________2. 3 levels of strategy
__________3. Strategy comes from the _____ word ______ which means “the art of the general.”
__________4. Set of decisions that provides ways on how the organization competes in the industry it chooses to be
in and eventually sustains a competitive advantage.
__________5. 6 functional strategies in marketing
__________6. Means identifying the overall goals of the corporation and the types of business in which the
companies should get in.
__________7. Process of creating satisfying consumer needs and want through products and services.
__________8. Concerned with the proper selection of business which the company should compete in.
__________9. Predicts future sales of new products and services
__________10. Eliminates the possibility of heavy losses or possible product failures.
__________11. Means identifying and defining where the company should be accessible.
__________12. Positions the brand and enables brand awareness to the customers.
__________13. Battle plan, a technique or a tactic in the art of war
__________14. Product and service planning also includes ______ and packaging
__________15. Strategies should be shared and coordinated to all the employees.
__________16. 2 major considerations with regard to pricing
__________17. Translate the strategies into the corporate and business levels to departmental or functional units.
__________18. Systematic gathering and analyzing of data that relates to the marketing of goods and services
__________19. Crucial in strategic management
__________20. 4 Considerations to be followed in corporate level strategy
__________21. 3 decision in finance
__________22. Comprises of decisions that give the organization what industry it will be and not be in and how it will
allocate specific resources,
__________23. Allocation of resources including capital to projects, products or services
__________24. How employees are to be governed in the achievement of corporate objectives
__________25. Strategy implementation should be accompanied by effective ______ and _______
__________26. Also called operational strategies
__________27. Concerns the whole corporation, it usually fulfills the mission and vision of the company.
__________28. Efficient placement of capital to various means
__________29. Examines and finds the best capital structure for the organization
__________30. Concerns the right period or time frame by which the organization will issue a percentage of income
to stockholders through dividends.
__________31. Generally analyzes the whole system on the basis of participation of the different business units.
__________32. Determines how the firm can raise capital
__________33. Basically positioning strategies, making the companies secure a foothold in the market.
__________34. 3 Functions in production
__________35. Includes various activities such as the use of facilities, production flow analysis, and physical
distribution system.
__________36. Concern with the determination of optimal output levels for the firm without going over or under
production
__________37. Establish the framework by which all other strategies are formulated and implemented.
__________38. Enables consumers to compare prices, products, and services of supplier
__________39. Gives buyers the chance not to compare prices individually but on a whole package.
__________40. Enables a company to pull out information from consumers to improve the company’s performance
__________41. Expansion into related product lines helps companies to share activities such as ______ and ______
__________42. 2 strategies of pricing
__________43. Practice of offering the same products at price points depending on consumer needs
__________44. Practice of changing various prices from one market to another depending on the conditions of the
market.
__________45. Comprises of decisions in the different functions of the organization that support the business
strategy.
__________46. Post-it and adhesive
__________47. They have proven to the world that its innovation, courage and determination to succeed make the
organization as one of the most bankable
__________48.P&G continues to market _____, _____ and __________
__________49. Six categories
__________50. Best known for its effective strategic sourcing and procurement
__________1. President and chairman of the Ayala Corporation

CHAPTER 5 Strategic Human Resource Management

__________1. Specifies the company’s direction, where the company is going.
__________2. Explains the company’s reason and purpose for existence.
__________3. The company looks at expansion from various angles such as mergers and acquisitions.
__________4. Opt to increase its market share, reduce cost or probably maintain a market niche.
__________5. Illustrate Strategic HR Framework Schematic Diagram of HRM Today
__________6. Focuses on product development, joint ventures or new market development.
__________7. HR should focus on ____ and not entirely on the usual traditional activities.
__________8. HR’s greatest asset
__________9. Done to look into the company’s SWO, and competitors’ stake in the industry where the company
belongs.
__________10. 4 Areas that the company should know fully well on human resources
__________11. 3 major categories of HR practices
__________12. 3 ways HR achieve excellence
__________13. 5 work design and people management
__________14. HR will not transform by itself. The responsibility belongs to all the ___ and the ____ who work
together to achieve business goals.
__________15. Represent the people who comprise the whole organization.
__________16. 3 Pay structure and benefits include
__________17. 3 Employee Relationships and Negotiations
__________18. Ultimately has the biggest role in transforming HR to its new role.
__________19. The once who have the closest hands on processes and subsequently on results.
__________20. Formulated to suit the organizational strategies as a whole
__________21. Illustrate work design diagram
__________22. 3 Frame of a job design
__________23. Process of obtaining information about job
__________24. Building block of HR
__________25. Forms the foundation and starting point of HR managers in (7)
__________26. It is very crucial to determine the ____, ____, ___, and _____
__________27. Getting all the necessary information about how well each employee performs
__________28. Need pertinent information to analyze an organization’s needs
__________29. 5 objectives for recruiting or hiring
__________30. Company’s dream and what the company wants to become
__________31. Easiest to attract, those who are currently unemployed or thinking of transferring or changing jobs
because of some issues from their present posts.
__________32. Those who do not seek employment at the moment and are happy with their present jobs.
__________33. They represent the bulk of potential applicants because of their experience and skills they have
acquired on the job yet the hardest to attract
__________34. Unionized companies see to it that any vacancy is posted in the ______ at least ________
__________35. ____ relieves HR on looking for the inactive candidates.
__________36. What will executive search do?
__________37. 4 Traditional techniques in hiring
__________38. Non-traditional tool in hiring
__________39. Most expensive technique
__________40. 5 ways to assess candidates
__________41. 3 subdivisions of psychological test
__________42. Measure the general intelligence of a person
__________43. Measure the inclination of a person towards a certain field
__________44. Provides some of the traits or values of a person
__________45. Provide the company a rundown of the skills of the candidate, to assess whether these skills can be
used by the company now or in the future.
__________46. Identifies the academic background of the candidate, how he faired in school, in terms of
performance and achievements
__________47. 4 primary attraction of the company in order to draw applicants
__________48. Essential tools in the success of the organization
__________49. Written statements of duties, responsibilities, reporting relationships, and minimum qualifications of
a job
__________50. Provide essentially what the vision of the company is or its general direction
__________1. Tells the employee where he should fit inside the organization
__________2. Provide the legal bases of certain functions and physical requirements
__________3. Primary element of entrepreneurship
__________4. Present in any type of business

CHAPTER 6 Strategy Evaluation and Control

__________1. 3-step model
__________2. Who added another step? What is that step?
__________3. Who developed a process that operates on a continuous basis?
__________4. The critical evaluation of plans, activities, and results which form a basis for future actions.
__________5. Involves the checking of the conditions of the environment which would affect the strategies.
__________6. First approach
__________7. Second approach
__________8. Ensures that the strategic aims are achieved.
__________9. Focused on monitoring a broad range of events, both external and internal that is likely to affect or
pose a great impact on the firm’s strategy
__________10. Fast yet thorough monitoring of strategies on the grounds of sudden or unexpected events
__________11. Strategic control should look at ___ to be consistent with goals and policies.
__________12. To be consistent, it is necessary for strategies to be ____ and _____ with external environment.
__________13. Functions on a continuous basis.
__________14. An organization should also see to it that it possesses the ___ and ____ to carry out a strategy.
__________15. Designed to check whether the premises set at the beginning of the planning and implementation
processes are still in pace.
__________16. In the form of feedback.
__________17. 6 stages of feedback
__________18. Sets actual standards.
__________19. Focuses on the evaluation of the strategies implements, if they have resulted on what was planned.
__________20. It corrects activities that are not aligned in the objectives of the organization.
__________21. 3 modes of corrective action
__________22. It usually increases the capacity for handling strategic surprises.
__________23. Designed to monitor the overall strategy vis-a-vis the results associated with the steps in the
implementation of the overall strategy.
__________24. Depicts how effective a particular strategy is.
__________25. It expedites the response process to face the problem at hand.
__________26. It is a normal, routine approach, wherein the organization has no crisis to confront with.
__________27. Review of significant highlights in the development of a particular program.
__________28. Help in determining the direction of the company whether the implementation of the strategy should
continue or not; whether it should be refocused or realigned.
__________29. Determines the objectives of the organization in the light of the strategy.
__________30. Usually ____ identify areas that need corrective action.
__________31. It provides a guide in setting out target and tolerance.
__________32. It is generally environmental scanning because it is designed to safeguard or protect the established
strategies on a continuous basis.
__________33. Strategic control should neither be _________ nor ___________.
__________34. Controls should be __________.
__________35. Control system should be ________.
__________36. Innovation requires _______. When there is _____, there is ____. Behind _______ is ___________