The First Step in the Strategy-Making Process Is To

question 1

Multiple Choice

The first step in the strategy-making process is to:

• A) assess the need for strategic change
• B) conduct a situation analysis
• C) choose strategic alternatives
• D) evaluate the impact of changes on the internal environment
• E) create a strategic budget

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Definitions:

Award

A formal acknowledgment, often involving a monetary gift, given in recognition of an achievement or as a decision in arbitration and legal matters.

Fraudulent Misrepresentation

A false statement made knowingly, without belief in its truth, or recklessly, causing another to enter into a contract.

Rescission

The revocation, cancellation, or repeal of a contract, returning the parties to the positions they occupied before the contract was made.

Damages

Monetary compensation awarded by a court to a plaintiff for losses or injuries suffered as a result of another’s actions.