Which of the Following Is Not One of the Steps

question 63

Multiple Choice

Which of the following is not one of the steps in strategic planning?

• A) Transferring the successful process used in a developed country to an emerging economy
• B) Scanning the external environment for opportunities and threats
• C) Conducting an internal resource analysis of company strengths and weaknesses
• D) Formulating goals in light of the external scanning and internal analysis

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Definitions:

Bounded Rationality

A concept that decision-makers are limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make a decision.

Temporal Immediacy

The urgency or closeness in time of an event, emphasizing the importance of timely action or response.

Rationality Limitations

Constraints on an individual's ability to think and make decisions in a logical and clear-headed manner.

Bounded Rationality

Refers to the concept that in decision-making, an individual's rationality is limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make a decision.