The First Step in the Strategy-Making Process Is To

question 1

Multiple Choice

The first step in the strategy-making process is to:

• A) assess the need for strategic change
• B) conduct a situation analysis
• C) choose strategic alternatives
• D) evaluate the impact of changes on the internal environment
• E) create a strategic budget

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Definitions:

European Commission

An institution of the European Union responsible for proposing legislation, implementing decisions, upholding the EU treaties, and managing the day-to-day operations of the EU.

Trustbusters

Refers to government officials or policies that aim to break up or regulate monopolies and ensure competition in the marketplace.

FTC Act

Legislation established to prevent unfair competition, deceptive acts, and regulate antitrust.

Sherman Act

A landmark federal statute in the field of United States antitrust law passed by Congress in 1890 to preserve competitive market conditions by prohibiting monopolies, cartels, and trusts.