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

Which of the following is the correct sequence of the basic strategic management process?

The correct sequence is environmental scanning, then strategy formulation, then strategy implementation, and finally evaluation and control. Strategy cannot be implemented before it is formulated, and it cannot be formulated sensibly without first understanding the environment; evaluation feeds back into the cycle.

  1. AStrategy implementation, strategy formulation, environmental scanning, evaluation
  2. BStrategy formulation, environmental scanning, evaluation, implementation
  3. CEnvironmental scanning, strategy formulation, strategy implementation, evaluation and controlCorrect
  4. DEvaluation and control, implementation, formulation, environmental scanning

Explanation

The organisation first scans its environment, then formulates strategy, implements it, and finally evaluates and controls performance, feeding back into scanning. The other orders place implementation or evaluation before the strategy exists.

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