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CMA Intermediate · Operations Management and Strategic Management · Introduction to Strategic Management

Choosing between strategic alternatives such as expansion, diversification or retrenchment, after analysing the environment and internal resources, belongs to which stage of the process?

This is strategy formulation. After analysing the environment and internal resources, the firm generates alternatives like expansion, diversification or retrenchment and chooses one. Implementation follows by putting the chosen strategy into action, and control monitors results.

  1. AStrategy formulationCorrect
  2. BStrategy implementation
  3. CStrategic control
  4. DMission setting

Explanation

Strategy formulation involves generating alternatives and selecting the best one using external and internal analysis. Implementation then puts it into action through structure, resources and systems.

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