Which of the following is considered to be the first step in strategic management quizlet?

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Which of the following is considered the first step in strategic management?
Which of the following is considered the first step in strategic management on quizlet?
What is the first step in the strategic planning process quizlet?

Human Resource Management

15th EditionJohn David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine

249 solutions

Human Resource Management

15th EditionJohn David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine

249 solutions

Operations Management: Sustainability and Supply Chain Management

12th EditionBarry Render, Chuck Munson, Jay Heizer

1,698 solutions

Service Management: Operations, Strategy, and Information Technology

7th EditionJames Fitzsimmons, Mona Fitzsimmons

103 solutions

According to the Powerpoint presentation, the strategic actions from a SWOT analysis, in order of priority, are generally as follows:

a-Find the products that the firm can produce cheaply first, then develop strategies to defend against critical external threats.
b-Correct the important weaknesses first, then develop strategies that match the company's strengths to market opportunities, and lastly, develop strategies to defend against critical external threats.
c-Develop strategies to knock other firms out of the marketplace first, then match the company's strengths to market opportunities.
d-Develop strategies that match the company's strengths to market opportunities, then correct the important weaknesses, and lastly, develop strategies to defend against critical external threats.

Sets found in the same folder

Stage 2 of the strategic-management process. Activities include establishing annual objectives, devising policies, motivating employees, allocating resources, developing a strategy-supportive culture, creating an effective organizational structure, redirecting marketing efforts, preparing budgets, developing and utilizing information systems, and linking employee compensation to organizational performance.

- requires a firm to establish annual objectives, devise policies, motivate employees, and allocate resources so that formulated strategies can be executed
- often called the action stage

Sets with similar terms

Information Technology Project Management: Providing Measurable Organizational Value

5th EditionJack T. Marchewka

346 solutions

Human Resource Management

15th EditionJohn David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine

249 solutions

Information Technology Project Management: Providing Measurable Organizational Value

5th EditionJack T. Marchewka

346 solutions

Service Management: Operations, Strategy, and Information Technology

7th EditionJames Fitzsimmons, Mona Fitzsimmons

103 solutions

Information Technology Project Management: Providing Measurable Organizational Value

5th EditionJack T. Marchewka

346 solutions

Human Resource Management

15th EditionJohn David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine

249 solutions

Operations Management: Sustainability and Supply Chain Management

12th EditionBarry Render, Chuck Munson, Jay Heizer

1,698 solutions

Information Technology Project Management: Providing Measurable Organizational Value

5th EditionJack T. Marchewka

346 solutions

Which of the following is considered the first step in strategic management?

The first step is to define the vision, mission, and values statements of the organization. This is done in combination with the external analysis of the business environment (PESTEL) and internal analysis of the organization (SWOT).

Which of the following is considered the first step in strategic management on quizlet?

Many organizations today develop a vision statement that answers the question "What do we want to become?" Developing a vision statement is often considered the first step in strategic planning, preceding even development of a mission statement.