When managers develop, refine, and agree on which markets to enter or exit and how to best compete in each, the managers are engaged in the strategy ________ process.

Question

Quizplus · Accepted Answer

Formulation of strategy involves deciding which markets to enter or exit and determining the best ways to compete in those markets. This process includes developing, refining, and agreeing on strategic plans before they are implemented.

When Managers Develop, Refine, and Agree on Which Markets to Enter