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

Which statement best describes the nature of the strategic management process in a dynamic business environment?

The process is continuous and iterative. Feedback from evaluation and control leads management to revisit environmental analysis, strategy choices and implementation as conditions change. It is not a one-time exercise, not limited to lower-level managers, and does not stop once a mission statement has been approved.

  1. AIt is a one-time exercise completed once the strategy is chosen
  2. BIt is continuous and iterative, with feedback from evaluation leading to revisiting earlier stagesCorrect
  3. CIt concerns only functional managers at the lowest level
  4. DIt ends when the mission statement is approved

Explanation

Because environments change, results from evaluation feed back into scanning, formulation and implementation. The process therefore never ends as a one-time task. It involves top management primarily and continues well beyond writing the mission.

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