Question

Which statement is CORRECT about strategic-management process?
(A) It is a continuous process
(B) It applies mostly to large business
(C) It applies mostly to small businesses
(D) None of these

Answer 1

Answer:

B

Explanation:

it applies mostly to large business

Answer 2

The statement (A) It is a continuous process is correct and true about the strategic-management process.

What is Strategic management?

• It is a process where the resources of a company are managed to achieve certain goals and objectives.
• The process overall includes many steps such as evaluating the internal team, rolling new plans or strategies, setting objectives for the company, studying the competition, etc.
• Each of these strategies or plans under the strategic management process has financial and non-financial benefits.
• One of the best and prime examples of this framework is the SWOT analysis. This helps the company to know its position and place at the market level.
• Every time there's a new product or service or even a new competition this process has to be applied. Thus, it is continuous in nature.
• This management process can be used for many businesses irrespective of their type or scale.

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