BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Assessing organizational resources, capabilities, activities, and culture is done in which step of the strategic management process?
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Step 4
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Step 1
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Step 2
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Step 3
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Explanation:
Detailed explanation-1: -Strategy formulation is the process of deciding best course of action for achieving organizational objectives. After conducting environment scanning process, managers formulate corporate, business and functional strategies.
Detailed explanation-2: -The strategic-management process consists of three stages: strategy formulation, strategy implementation, and strategy evaluation.
Detailed explanation-3: -The four phases of strategic management are formulation, implementation, evaluation and modification.
Detailed explanation-4: -Specifically, what happens during step 3 of the planning process? Formulate premises about future conditions. It is where one looks ahead, trying to figure out what may happen.
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