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CA Intermediate · Financial Management and Strategic Management · Introduction to Strategic Management

Meera Retail's board formulates a plan to expand into tier-2 cities, sets targets and chooses the entry route. In the strategic management process, the stage where the firm converts this plan into action through structure, resources and systems is called:

The stage is strategy implementation. It converts the formulated plan into action by arranging organisational structure, allocating resources and putting systems in place. Environmental scanning, goal setting and evaluation occur before or after this stage and do not execute the plan.

  1. AEnvironmental scanning
  2. BStrategy implementationCorrect
  3. CStrategy evaluation
  4. DGoal setting

Explanation

After formulation, strategy implementation puts the plan into action by arranging structure, resources, systems and leadership. Scanning is analysis of the environment, evaluation is monitoring results against targets, and goal setting precedes the plan.

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