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

In the strategic management process, which sequence of stages is correct?

The logical sequence is environmental scanning and setting direction, then strategy formulation, then implementation, and finally evaluation and control. Implementation and evaluation need a formulated strategy, and formulation needs prior understanding of the environment and objectives.

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

Explanation

Organisations first scan the environment and set vision, mission and objectives, then formulate strategy, then implement it through structure, resources and systems, and finally evaluate performance and take corrective action. Beginning with implementation or evaluation is illogical because there would be no strategy to execute or review.

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