The first component of the strategic management process is:
A) crafting the organization's mission statement.
B) coming up with a damage control plan.
C) analyzing the macroenvironment.
D) determining the firm's employee turnover rate.
E) deciding on a fit between the organization's strengths and weaknesses and the environment's opportunities and threats.

Question

Quizplus · Accepted Answer

The first component of the strategic management process is crafting the organization's mission statement. The mission statement provides direction and sets the tone for the organization's strategy development.

The First Component of the Strategic Management Process Is