The First Step in the Strategic Planning Process Is To

question 73

Multiple Choice

The first step in the strategic planning process is to:

• A) determine the organization's mission.
• B) scan the organization's environment.
• C) set strategic goals.
• D) formulate a strategic plan.

Comprehend how industries adjust to economic profits and losses and understand the movement of resources in competitive markets.

Recognize the determinants of output distribution in a market economy.

Understand the mechanisms that encourage or discourage innovation in a competitive market system.

Grasp the significance of economic profits and losses in resource allocation and output composition.

---

Definitions:

Genetic Mutation

A change in the DNA sequence within a gene or chromosome of an organism that can lead to differences in physical traits or health.

Chromosomal Abnormality

A change in the number or structure of chromosomes, often leading to genetic disorders or syndromes.

Musical Giftedness

An exceptional skill or talent in understanding, creating, and performing music.

Genotype

The genetic makeup of an organism, consisting of all the DNA and genes, influencing its development, appearance, and behavior.