The first step in the strategic management process is
A) defining the mission and major goals of the organization.
B) analyzing the macroenvironment.
C) analyzing the industry environment.
D) determining the firm's strengths and weaknesses.
E) deciding on a fit between the organization's strengths and weaknesses and the environment's opportunities and threats.

Question

Quizplus · Accepted Answer

The first step in the strategic management process is to define the mission and major goals of the organization. This provides a clear direction for the organization and helps in developing strategies to achieve those goals. Once the goals are defined, the other steps such as analyzing the macroenvironment and industry environment, determining strengths and weaknesses, and deciding on a fit between the organization and environment can be taken.

The First Step in the Strategic Management Process Is