After Developing a Mission Statement and Setting Objectives, the Next

question 89

Multiple Choice

After developing a mission statement and setting objectives, the next step in the strategic planning process is to:

• A) implement the strategy
• B) conduct a situation audit
• C) allocate resources
• D) contemplate competitive factors
• E) evaluate the process and be willing to make adjustments

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Definitions:

Learning Potential

The capacity or ability of an individual or organization to gain knowledge or skills.

Core Business Potential

The inherent capacity of a company's primary area of operation to generate revenue and achieve sustainable growth.

Cross-Selling Potential

The ability of a company to sell additional products or services to an existing customer base.

Customer Lifetime Value

An estimation of the total value a business can expect from a single customer throughout the entirety of their relationship.