Which of the following refers to the planning and decision making that lead to the establishment of the organization's goals and of a specific strategic plan?
A) Strategy formulation
B) Strategy implementation
C) Strategy coordination
D) Strategy control
E) SWOT

Question

Quizplus · Accepted Answer

Strategy formulation refers to 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. It involves assessing the internal and external environment of the organization, identifying strengths, weaknesses, opportunities, and threats (SWOT analysis), and formulating strategies to achieve the organization's goals. Strategy implementation, coordination, and control are all subsequent steps in the strategic management process that come after strategy formulation.

Which of the Following Refers to the Planning and Decision