A Team of Managers Has Been Assigned the Task of Developing

question 34

Multiple Choice

A team of managers has been assigned the task of developing and implementing a strategic plan using the strategic management process.The team has already defined the current business and mission.What should the team most likely do next?

• A) write a new mission statement
• B) perform a SWOT analysis
• C) evaluate the firm's vision
• D) assess the firm's performance

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Definitions:

Reward Systems

Organizational mechanisms designed to recognize and compensate employees for their contributions and performance.

Reduce Competition

Strategies or actions taken by companies to lessen the intensity of competition within a market or industry.

Policies and Procedures

Established guidelines and systematic steps designed to achieve efficiency, quality, and compliance in business operations.

Direct Behaviour

The act of influencing or guiding actions and conduct through explicit instructions or leadership.