FACHE ACHE BOG Exam with Questions and Answers

FACHE ACHE BOG Exam with Questions and Answers Strategic Opportunities ANSWER Opportunities that when narrowed involve quantum shifts in service capabilities or market share, usually by interaction with competitors Strategic Management ANSWER Overseeing and directing daily activities in an organization to ensure they support achievement of mission/vision Strategic Alliance ANSWER a long term formal and mutually beneficial relationship between two or more parties Strategic Action cycle (Four Stages) ANSWER (1) Strategic planning (2) Budgeting (3) Implementing Strategy (4) Controlling problems and monitoring progress Stakeholders ANSWER Persons who have a claim to or obtain some benefit from an organization. Product (or service) Life cycle ANSWER Four distinct but wholly predictable - (1) Introduction to the marker (2) Growth in utilization & revenue (3) Maturity - when utilization & revenue stablize