Which of the Following Is NOT a Step in the Strategic

question 152

Multiple Choice

Which of the following is NOT a step in the strategic planning process?

• A) defining the company mission
• B) setting company objectives and goals
• C) designing the business portfolio
• D) planning marketing and other functional strategies
• E) evaluating members of the company's value chain

---

Definitions:

Zero Economic Profit

A situation where a company's total revenues exactly equal its total costs, implying normal profit but no economic profit above that.

Competitive Price-searcher Market

A market structure where companies have some control over the prices they charge but must also consider the prices set by their competitors.

Economic Profits

Profits calculated by deducting both the explicit and implicit costs from the total revenues, differing from accounting profits by considering opportunity costs.

Long-run Equilibrium

A state in an economy or market where all factors of production are fully employed, and supply equals demand, resulting in stable prices and output.