The First Step of the Strategic Planning Process for a Small

question 77

Multiple Choice

The first step of the strategic planning process for a small business is:

• A) performing a SWOT analysis.
• B) reviewing and confirming the goals that define the firm.
• C) mapping the prospective customers.
• D) studying the dynamics and trends of the industry.

---

Definitions:

Internal Motivation

The drive to act or behave in a certain way based on internal rewards or personal satisfaction rather than external pressures or rewards.

Behavioral Flexibility

The ability to adapt and adjust behavior in response to changing circumstances or environments.

Automatic Processes

Automatic processes are mental activities that occur without conscious effort or awareness, typically allowing people to perform tasks quickly and efficiently.

Self-Regulation

The ability to monitor and control one's own behaviors, emotions, or thoughts, aligning them with long-term goals.