A team of managers has been assigned the task of developing and implementing a strategic plan using the strategic management process.The team has already defined the current business and mission.What should the team most likely do next?
A) write a new mission statement
B) perform a SWOT analysis
C) evaluate the firm's vision
D) assess the firm's performance

Question

Quizplus · Accepted Answer

The first step in the strategic management process is to define the current business and assess what products or services a firm sells and where they are sold. After this initial step, a manager should perform external and internal audits with a SWOT analysis or an environmental scanning worksheet. Writing a new mission statement and developing new strategies occur later in the process.

A Team of Managers Has Been Assigned the Task of Developing