Asked by
KAYLEE TUMBLESON
on Oct 22, 2024
Verified
Which of the following is the first step in the process of strategic management?
A) strategic analysis
B) strategy formulation
C) strategy implementation
D) strategic marketing
E) strategic outsourcing
Strategic Management
The ongoing planning, monitoring, analysis, and assessment of all necessities an organization needs to meet its goals and objectives, with a focus on long-term strategic direction.
Strategy Formulation
The process of identifying strategic goals, generating and evaluating strategic options, and selecting the appropriate strategies for implementation.
Strategy Implementation
The process of executing plans and strategies to achieve organizational goals and objectives.
- Gain an understanding of the strategic planning cycle, which includes the stages of analysis, strategy formulation, and implementation.
Verified Answer
RS
Learning Objectives
- Gain an understanding of the strategic planning cycle, which includes the stages of analysis, strategy formulation, and implementation.