Question

What are the four steps of the strategic management process?

1) Planning, organizing, leading, controlling
2) Setting goals, analyzing the environment, formulating strategy, implementing strategy
3) Identifying opportunities, analyzing strengths and weaknesses, implementing action plans, evaluating results
4) Defining the mission, setting objectives, developing strategies, implementing and executing strategies

Answer 1

The four steps of the strategic management process are: defining the mission, setting objectives, developing strategies, and implementing and executing strategies.

Step-by-step explanation:

The four steps of the strategic management process are:

1. Defining the mission: This involves determining the purpose and overall objectives of the organization.
2. Setting objectives: Once the mission is defined, specific goals and targets are set to achieve that mission.
3. Developing strategies: Strategies are created to guide the allocation of resources and activities in order to achieve the objectives.
4. Implementing and executing strategies: The chosen strategies are put into action and executed through the organization's operations.