Final answer:
Strategic-management processes are more formal in larger and well-established organizations due to their complexity and the need for structured planning to manage operations and resources effectively.
Step-by-step explanation:
The application of the strategic-management process is indeed typically more formal in larger and well-established organizations. This tendency towards formality can be attributed to the complex nature of these organizations and the need for a structured approach to managing the multitude of operations, departments, and personnel. Formal strategic-management processes help these organizations steer their efforts in a purposeful direction, considering the higher stakes involved. Compared to smaller firms or start-ups, large entities rely more heavily on formal strategic planning to coordinate and apply resources efficiently to achieve their long-term objectives.
The statement is true.In larger and well-established organizations, the application of the strategic-management process is typically more formal. These organizations have dedicated resources, such as strategic planning departments, that are responsible for developing and implementing formal strategies.For example, a large multinational corporation may have a strategic planning team that conducts extensive analysis, sets long-term goals, develops action plans, and monitors the progress of strategic initiatives. This formal approach ensures that the organization's resources are aligned with its strategic direction and helps to achieve competitive advantage in the market.