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:

Antibiotics

Medications used to prevent and treat bacterial infections by killing or inhibiting the growth of bacteria.

Fever

An elevation in body temperature above the normal range, often a sign of infection or illness.

Evaporation

The process by which a liquid turns into a gas at a temperature below its boiling point through the increase of energy.

Convection

The process of heat transfer through fluids (gas or liquid) by the movement of the heated parts of the fluid itself.