The Third Step in the Strategic Management Process Is

question 79

Multiple Choice

The third step in the strategic management process is .

• A)formulate a strategy
• B)formulate new business and mission statements
• C)implement the strategy
• D)define the business and its mission
• E)perform external and internal audits

---

Definitions:

Restaurant

A business establishment where meals are prepared and served to customers in exchange for money.

Proprietorship

A business owned and operated by a single individual, characterized by the simplicity of setting up and the sole responsibility for any of its debts or liabilities.

Financial Difficulty

A situation where an individual, business, or government faces challenges in meeting its debt obligations or managing its monetary affairs.

Bankruptcy

A legal process where individuals or organizations declare their inability to pay off their debts.