The Strategic Management Process
You finally made it.You were recently promoted to Executive Vice President in the corporate division.On the first day in your new position, the Chairperson said she was pleased at your new promotion and looked forward to hearing your presentation at next week's meeting concerning the new strategic management process you will be handling.You smiled, even though your stomach was churning.Unfortunately, this was the first you had heard about this meeting, and other than doing your small part in past planning efforts, you have little idea about how to design a strategic management process.You quickly grab your daughter's management textbook and read up on the topic.
-Refer to The Strategic Management Process (Scenario).You learn that the very first thing you should do in the strategic management process is ________.

Question

Quizplus · Accepted Answer

The first step in the strategic management process is to identify the organization's current mission, objectives, and strategies. This will provide a foundation for the rest of the planning process and help ensure that future strategies are aligned with the organization's goals. Options A, B, C, and D are important steps in the process as well, but they come after the initial identification of the organization's mission and objectives.