Question

The strategic management process includes activities that managers take to help put their firms in the best position to be successful in the market. which of the following is not a part of the strategy cycle?

Answer 1

Production decisions are not part of the strategic management strategy cycle; that cycle focuses on positioning firms in the market through various stages such as planning, analysis, implementation, and evaluation.

Step-by-step explanation:

The strategic management process is vital for firms to achieve success in the market. This process typically includes several steps: clarifying the firm's vision and mission, setting strategic objectives, external and internal analysis (such as SWOT analysis), strategic formulation, strategy implementation, and strategic evaluation and control. The strategy cycle does not include production decisions, although they are important in their own right. The production process, which deals with decisions regarding how products or services are created and delivered, is separate from the strategic management cycle, though it may be influenced by the chosen strategy.