Strategy formulation involves:
A) establishing the organisation's mission, vision, strategy, goals and values
B) conducting a SWOT analysis of the organisation's external and internal environments
C) developing three levels of strategy-corporate, business and functional
D) both a and b

Question

Strategy formulation involves:
A) establishing the organisation's mission, vision, strategy, goals and values
B) conducting a SWOT analysis of the organisation's external and internal environments
C) developing three levels of strategy-corporate, business and functional
D) both a and b

Quizplus · Accepted Answer

Strategy formulation involves both establishing the organisation's mission, vision, strategy, goals and values, as well as conducting a SWOT analysis of the organisation's external and internal environments. Additionally, developing three levels of strategy - corporate, business, and functional - is also part of strategy formulation. Therefore, both options A and B are correct.

Strategy Formulation Involves