Which of the following is the first step in the process of strategic management?
A) Strategic analysis
B) Strategy formulation
C) Strategy implementation
D) Strategic marketing
E) Strategic outsourcing

Question

Quizplus · Accepted Answer

The first step in the process of strategic management is strategic analysis. This involves studying of internal and external factors that affect the company's performance, its strengths and weaknesses, opportunities, limitations and threats. Only after the strategic analysis is complete, can the company go on to the next steps of strategy formulation, implementation and evaluation.

Which of the Following Is the First Step in the Process