The development of long-range plans for the effective management of environmental opportunities and threats in light of corporate strengths and weaknesses is known as
A) strategy formulation.
B) strategy implementation.
C) strategy control.
D) strategic analysis.
E) strategy evaluation.

Question

Quizplus · Accepted Answer

Strategy formulation is the process of developing a strategic plan to achieve organizational goals and objectives. This includes an assessment of the internal and external environment to identify opportunities and threats, as well as an analysis of the organization's strengths and weaknesses. The result is a long-range plan that outlines the actions and resources needed to achieve the desired outcomes. Therefore, strategy formulation is the most relevant option as it relates to the development of long-range plans for the effective management of environmental opportunities and threats while considering corporate strengths and weaknesses.

The Development of Long-Range Plans for the Effective Management of Environmental