Question

The first step in the formulation of a strategy is to frame ________ statement of the firm. (Vision,mission,policy)​

Answer 1

Answer:

vision ...............

Answer 2

In this question, we are asked to tell what is the first step in the formulation of a strategy.

• Option A is correct i.e. Vision.
• The first step in the formulation of a strategy is to frame a vision statement.
• Developing a vision statement is considered the first step in strategic planning.
• Steps involved in the formulation of strategy are Gathering information, analysis, decision making, and implementation.
• The first step is Gathering information, information is gathered at first for what has to be done.
• Next step is analyzing then the information collected is analyzed.
• Decision is made that which information will help them and at last implementation is done.

PROJECT CODE #SPJ3