BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The statement is false. The strategy formulation framework has there key stages which guide the organization. Firstly is the input stage that encompasses both the external and internal evaluations.

Detailed explanation-2: -Techniques of strategy formulation can be integrated into a decision making framework. Strategies can be identified, evaluated and selected by this framework that includes three stages: (1) input stage, (2) matching stage, and (3) decision stage (Figure 1) (David, 2007).

Detailed explanation-3: -The first stage of the strategy-formulation framework is the input stage, and it is directly followed by the decision stage. Stage 2 in the strategy-formulation framework involves the Quantitative Strategic Planning Matrix.

Detailed explanation-4: -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).