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CS Professional · Strategic Management and Corporate Finance · Introduction to Strategic Management

In the strategic management process, which of the following correctly shows the usual logical sequence of its broad stages?

The usual sequence is environmental scanning, then strategy formulation, then strategy implementation, and finally evaluation and control. Analysis must come first so that choices are informed, action follows the choice, and control compares results with targets to trigger corrective steps.

  1. AStrategy implementation, strategy formulation, environmental scanning, evaluation
  2. BEnvironmental scanning, strategy formulation, strategy implementation, evaluation and controlCorrect
  3. CEvaluation and control, strategy formulation, environmental scanning, implementation
  4. DStrategy formulation, evaluation and control, implementation, environmental scanning

Explanation

The process begins with scanning the environment to identify opportunities, threats, strengths and weaknesses. Strategies are then formulated, put into action through structure, resources and systems, and finally evaluated and controlled against targets. The other orders place action or control before the analysis that should guide them.

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