The planning and decision making that lead to the establishment of the organisation's goals and of a specific strategic plan is known as:
A) strategy formulation
B) strategy implementation
C) strategy coordination
D) strategy control
E) SWOT.

Question

Quizplus · Accepted Answer

Strategy formulation is the process of planning and decision-making that leads to the establishment of an organization's goals and the development of a specific strategic plan. During this stage, the organization assesses its strengths and weaknesses, identifies opportunities and threats in the environment, sets objectives and goals, and develops a plan to achieve them. Thus, option A is the correct answer. Option B refers to the implementation of the strategy, option C refers to coordination, option D refers to control, and option E is a tool used during the strategy formulation stage.

The Planning and Decision Making That Lead to the Establishment