1. A clear strategy for being better than competitors and a highly motivated workforce are major keys for long term profitability.
2. If a company is pursuing a low cost strategy, it is important that employees only perform duties specified in their job description.
3. All information is relevant for strategic planning.
4. Opportunities are generally easier to control than threats.
5. The external environment for a company consists of physical and social factors outside the organization EXCEPT government legislation at all levels.
6. Interest rates are a feature of the external environment that is relevant for an organization’s strategic planning.
7. The number of regional college students who complete their degree programs and the specific majors of these students would not be relevant information for company strategic planning.
8. Information about threats and opportunities should be gathered early in the strategic planning process.
9. Internet career networks are a major threat for human resource management because they jeopardize the jobs of human resource personnel.
10. During strategic planning, organizations should focus only on their strengths so they can capitalize on those strengths.