What Is the First Step in the Strategy-Making Process

question 34

Multiple Choice

What is the first step in the strategy-making process?

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

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Definitions:

Competitive Advantage

The attribute or set of attributes that allows an organization to outperform its competitors.

Top Fashion Trends

The most popular and current styles in clothing, accessories, and overall fashion at a given time.

Adapting

The process of making adjustments or changes in order to suit new conditions or environments.

Commercializing Innovation

The process of bringing new and innovative products or services to the market, turning ideas into commercial successes.