Asked by Shelby Bliss on Apr 24, 2024
Verified
Which of the following is the last step in the process of strategic management?
A) strategic analysis
B) strategy formulation
C) strategy implementation
D) strategic marketing
E) strategic outsourcing
Strategy Implementation
The execution of plans and initiatives to achieve strategic goals and objectives.
Strategic Management
The ongoing planning, monitoring, analysis, and assessment necessary to meet an organization's goals and objectives, often involving consideration of internal and external environments.
Strategy Formulation
The process of defining an organization’s strategy or direction and making decisions on allocating its resources to pursue this strategy.
- Acquire insight into the strategic planning procedure, incorporating the steps of analysis, creation of strategy, and its application.
Verified Answer
ZK
Zybrea KnightMay 02, 2024
Final Answer :
C
Explanation :
Strategy implementation is the last step in the process of strategic management. It involves putting the formulated strategies into action and ensuring that the organization is moving towards the desired goals and objectives. This step also includes monitoring and evaluating the progress of the implemented strategies and making necessary adjustments. Strategic analysis and strategy formulation come before implementation, and strategic marketing and outsourcing are specific aspects that may be included in the overall process but not necessarily the final step.
Learning Objectives
- Acquire insight into the strategic planning procedure, incorporating the steps of analysis, creation of strategy, and its application.