What Step in the Strategic Management Process Follows Analysing the External

question 45

Multiple Choice

What step in the strategic management process follows analysing the external environment?

• A)identifying opportunities and threats
• B)mission statement
• C)evaluation
• D)identifying internal strengths and weaknesses
• E)formulating strategies

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Definitions:

Innovation

The process of turning ideas into new or improved products, processes, or services, driven by a desire to solve problems or enhance existing solutions.

Social Capital

The networks of relationships among people who live and work in a particular society, enabling that society to function effectively.

SMART Goals

SMART goals are objectives that are Specific, Measurable, Achievable, Relevant, and Time-bound, designed to clarify ideas, focus efforts, and increase the chances of achieving them.

Extrinsic Motivators

External factors or rewards that influence someone’s behavior or actions.