At Which Step of the Strategic Management Process Do Managers

question 35

Multiple Choice

At which step of the strategic management process do managers try to find out what the competition is doing and what pending legislation might affect the organization?

• A)identify current mission,objectives,and strategies
• B)formulate strategies
• C)conduct market analysis
• D)conduct external analysis

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Definitions:

Domains

Refers to specific areas of interest, expertise, or activity, such as technology, biology, or education, which are used for organizing knowledge or resources.

Performance

The level of accomplishment of a given task measured against preset known standards of accuracy, completeness, cost, and speed.

Aggregation

The process of combining multiple pieces of data or information into a single group or summary value.

Performance-Based Pay

A compensation system where an employee's pay is based on performance or the achievement of specific targets.