Which of the Following Is the First Step in the Planning

question 28

Multiple Choice

Which of the following is the first step in the planning process to develop strategy?

• A) Identify markets served.
• B) Identify competitors.
• C) Provide a clear definition for the business.
• D) Identify the tax base.

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Definitions:

Mass Production

Creating significant amounts of consistent items, often through the use of automation or assembly lines.

Semiskilled Workers

Employees who possess some skills and training for their jobs, but do not require extensive education or specialized training.

Relationship Era

A period in marketing focusing on creating and maintaining long-term relationships with customers for sustained business success.

Individual Customers

Clients or consumers who purchase goods or services for personal use, as opposed to organizational or business clients.