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

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Definitions:

Specialization

A strategy where individuals or entities focus on producing a limited range of goods or services, enhancing efficiency and expertise in their domain.

Exchange

The act of trading goods, services, or currencies between two or more parties.

Trading Partners

Countries, entities, or individuals that exchange goods, services, or resources among each other.

Law of Comparative Advantage

The principle that a country should specialize in producing and exporting goods in which it has the lowest opportunity cost and import goods in which it has a comparative disadvantage.