The First Component of the Strategic Management Process Is

question 62

Multiple Choice

The first component of the strategic management process is

• A) deciding on a fit between the organization's strengths and weaknesses, and the environments opportunities and threats.
• B) analyzing the macro-environment.
• C) analyzing the industry environment.
• D) determining the firm's strengths and weaknesses.
• E) crafting the organization's mission statement, which provides the framework or context within which strategies are formulated.

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Definitions:

Authority

Authority is the power or right to give orders, make decisions, and enforce obedience.

Compliance

The act of following a request, order, or command; often studied in social psychology.

Bystander Effect

A social psychological phenomenon where individuals are less likely to offer help to a victim when other people are present, often due to a diffusion of responsibility.

Emergency

An emergency is a sudden, unforeseen situation that requires immediate action to prevent or minimize harm or disaster.