Which of the Following Is the First Step in Strategic

question 133

Multiple Choice

Which of the following is the first step in strategic planning?

• A) setting short-term goals
• B) developing the business portfolio
• C) defining the organizational mission
• D) formulating the key marketing strategies
• E) identifying the organization's weaknesses and the threats it faces

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Definitions:

Price of X

The amount of money required to purchase a product or service named X.

Consumption of Y

Represents the amount or volume of good Y that is utilized or consumed over a period.

Utility Function

A mathematical representation that ranks an individual's preferences for various goods and services, aiming to measure their level of satisfaction.

Units of X

A quantitative measure used to express the amount of a variable or entity X.