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:

Quantity of Capital

The total assets, both physical (such as machinery and buildings) and financial, that individuals or businesses use to produce goods and services.

Outward Rotation

An expansion of the production possibilities frontier, indicating an economy's increased capacity to produce goods and services.

Technology Improvement

Enhancements in technology that lead to more efficient production processes, higher quality products, or new products and services.

Per-worker Production

A measure of productivity calculated by dividing the total output by the number of workers.