Final answer:
Developing a "worry list," assessing competitive diversification moves, and analyzing the industry and competitive environment are involved in identifying strategic issues, but personal knowledge of managers is not required as firms grow and information becomes public.
Step-by-step explanation:
Identifying the strategic issues and challenges that company managers need to address is a critical aspect of business management and strategy development. When considering which activities are not involved in this process, it is clear that some options may seem relevant but are actually not necessary for identifying strategic issues. Specifically, developing a "worry list," assessing competitive diversification moves, and drawing on industry and competitive environment analyses are all part of the strategic management process. However, one option not directly related to strategizing is the personal knowledge of individual managers, which becomes less important as the company becomes established and its information becomes widely available.
As a firm grows and the availability of information regarding the company's performance increases, focus shifts from personal relationships with managers to more concrete factors like products, revenues, costs, and profits. This shift allows bondholders and shareholders—who may not have personal connections with the company's managers—to become more willing to provide financial capital. Thus, when identifying strategic challenges, extensive personal knowledge of individual managers is not typically included, as this knowledge has reduced significance in the context of widely available corporate information.