Which One of the Following Is Not One of the Five

question 24

Multiple Choice

Which one of the following is not one of the five stages of an ongoing,continuous strategic management process?

• A) forming a strategic vision of the company's future direction and focus
• B) setting objectives to measure progress toward achieving the strategic vision
• C) crafting a strategy to achieve the objectives and get the company where it wants to go
• D) developing a profitable business model
• E) implementing and executing the chosen strategy efficiently and effectively

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Definitions:

Satisficing Heuristic

A decision-making strategy that entails searching through the available alternatives until an acceptability threshold is met, rather than seeking the optimal solution.

Marketing Materials

Tools and media used for promoting and selling products or services, including brochures, flyers, online content, and advertisements.

Cognitive Shortcuts

Simplified strategies or heuristics used by the brain to make complex decision-making processes quicker and more efficient.

Decision

A decision refers to the choice made between two or more alternatives, after considering the consequences and benefits of each.