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

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

The correct sequence is environmental scanning, strategy formulation, strategy implementation, and then evaluation and control. Analysis of the environment must come first to inform the strategy, which is then put into action and finally monitored against objectives for 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, implementation, environmental scanning
  4. DStrategy formulation, evaluation and control, environmental scanning, implementation

Explanation

The firm first scans its internal and external environment, then formulates strategy based on that analysis, implements it through structure, resources and systems, and finally evaluates results and takes corrective action. The other orders place implementation or evaluation before the analysis or plan exists.

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