The second component of the strategic management process is
A) an analysis of the organizations internal environment
B) development of the mission statement
C) a statement of the vision for the organization
D) an analysis of the organization's external environment
E) a statement of the key values of the organization

Question

Quizplus · Accepted Answer

The second component of the strategic management process is an analysis of the organization's external environment, which includes identifying opportunities and threats through analyzing factors such as competition, market trends, and technological advancements. This analysis helps organizations to make informed decisions about potential strategies that will enable them to compete effectively in their environment.

The Second Component of the Strategic Management Process Is