The First Step in the Process of Strategic Analysis Is

question 6

Multiple Choice

The first step in the process of strategic analysis is to

• A) develop a set of mutually exclusive options
• B) establish the need for action
• C) evaluate the competitive environment
• D) undertake a gap analysis

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Definitions:

Surplus

The amount by which the quantity supplied of a product exceeds the quantity demanded at a specific price.

Quantity Supplied

The total amount of a particular good or service that producers are willing and able to sell at a given price over a specified period.

Quantity Demanded

The amount of a good or service that consumers are willing and able to buy at a specific price.

Surplus

The situation in which the quantity of goods or services supplied exceeds the quantity demanded at the current price.