When Companies Adopt the Strategy Formulation,strategy Execution Process,the First Step

question 29

Multiple Choice

When companies adopt the strategy formulation,strategy execution process,the first step is to

• A)monitor internal and external developments and initiate corrective adjustments to the business model when necessary.
• B)adopt a proven business model,decide on the company's top management team,and craft a strategy.
• C)execute the company's chosen strategy efficiently and effectively.
• D)set objectives and develop a profitable business model to meet those objectives.
• E)develop a strategic vision,mission,and values.

---

Definitions:

Fixed Investments

Capital investments in physical assets like buildings, equipment, or machinery that are not easily converted into cash.

Power And Influence

The capacity to affect the behavior, development, or decision-making of others through authority, persuasion, or other mechanisms within personal or professional contexts.

Resource Limitations

Constraints on the availability or access to resources, such as time, money, materials, and labor, that can affect the execution of plans or projects.

Change Management

The approach to transitioning individuals, teams, and organizations to a desired future state, managing the process of change effectively.