Question

Developing a vision and mission, identifying an organization's external opportunities and threats, and
determining internal strengths and weaknesses are all
activities.
Select one:
a. short-range planning
b. strategy-formulation
c. long-range planning
d. strategy-implementation​

Answer 1

Answer:

is option B

Explanation:

b. strategy-formulation

Answer 2

Developing a vision and mission, identifying an organization's external opportunities and threats, and determining internal strengths and weaknesses are all b. strategy-formulation activities.

Strategy-formulation:

• Strategy formulation is the process of just using the knowledge available to record a company's intended direction as well as actionable steps to achieve its goals.
• This method is used for resource allocation, prioritisation, organisational alignment, as well as business goal validation.
• A successful strategy enables your organisation to share a single, clear vision, detect biases by investigating the reasoning behind goals, as well as track performance using measurable key performance indicators (KPIs).