The strategic management process involves three main phases. These are:
A) Strategy analysis, strategy formulation, strategy review
B) Strategy formulation, strategy implementation, strategy review
C) Strategy analysis, strategy formulation, strategy implementation
D) Strategy analysis, strategy implementation, strategy review

Question

Quizplus · Accepted Answer

The strategic management process involves three main phases: strategy analysis, strategy formulation, and strategy implementation. Strategy analysis involves the analysis of the company's internal and external environment, strategy formulation involves the development of strategies and plans to achieve the company's objectives, and strategy implementation involves the execution of the strategies and plans. Strategy review is also an important phase, but it is typically ongoing throughout the entire process.

The Strategic Management Process Involves Three Main Phases