Question

What is the second step in developing a management strategy?

1) Identifying the problem
2) Setting objectives
3) Analyzing the environment
4) Implementing the strategy

Answer 1

The second step in developing a management strategy is setting objectives.

Step-by-step explanation:

The second step in developing a management strategy is setting objectives. Once the problem has been identified in the first step, the next step is to establish clear and specific objectives that the strategy aims to achieve. Objectives are the desired outcomes or goals that the management strategy will work towards.

Setting objectives helps to provide direction and focus to the strategy development process. It helps define what the strategy should accomplish and provides a framework for decision-making. Objectives should be SMART - specific, measurable, achievable, relevant, and time-bound.