The planning and decision making that lead to the establishment of the organization's goals and of a specific strategic plan is known as
A) strategy formulation.
B) strategy implementation.
C) strategy coordination.
D) strategy control.
E) SWOT.

Question

Quizplus · Accepted Answer

Strategy formulation involves the process of planning and setting goals for an organization's future, along with deciding on specific strategies to achieve those goals. This includes conducting a SWOT analysis to evaluate the organization's strengths, weaknesses, opportunities, and threats. Strategy implementation involves putting the plan into action, while strategy coordination involves ensuring that all departments and stakeholders are working together towards the same goals. Strategy control involves monitoring performance and making adjustments as needed to ensure that goals are being met.

The Planning and Decision Making That Lead to the Establishment