What Is the First Step in the Strategic Management Process

question 58

Multiple Choice

What is the first step in the strategic management process?

• A)formulating a strategy
• B)asking, "Where are we now as a business?"
• C)evaluating the strategic plan
• D)implementing an environmental scan

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Definitions:

Internal Rewards

Personal satisfaction and intrinsic motivations that come from within an individual, rather than external rewards.

Sense of Achievement

A feeling of pride and satisfaction that comes from accomplishing a task or reaching a goal.

Pride in Accomplishment

is a feeling of satisfaction and self-respect that comes from achieving or excelling in something.

Vacation

A period of time spent away from home or work for relaxation or recreation.