Setting Strategic Goals Is the First Step in Strategy Formulation

question 115

Multiple Choice

Setting strategic goals is the first step in strategy formulation. What is the next step?

• A) Analyzing the company and its environment
• B) Segmenting the markets the company wants to penetrate
• C) Preparing an organizational plan
• D) Matching company strengths with environmental characteristics
• E) Developing a mission statement

---

Definitions:

Pyroclastic Flow

A hot, fast-moving and deadly mixture of gases, ash, and volcanic material produced by explosive eruptions.

Scoria

A highly vesicular, dark colored volcanic rock that may or may not contain crystals, typically formed from the cooling of lava.

Tephra

Volcanic material ejected into the air during an eruption, including ash, bombs, and blocks, which can affect wide areas downwind of a volcano.

Composite Volcano

A type of volcano formed by alternating eruptions of lava and volcanic ash, leading to a layered structure.