Jamie decides to plan his strategies for starting an electric equipment manufacturing company. His main aim is to ensure that it runs efficiently. He decides to do this in two phases: the planning phase and the implementation phase.
Which of the following processes is Jamie employing?
A) retrenchment
B) organizational restructuring
C) strategic management
D) globalization
Question 2
Which of the following is the first step of the planning phase of a strategic management process?
A) assessment of the external environment that the firm will face in the future
B) establishment of the company's mission
C) analysis of the firm's relative capabilities to deal successfully with the external environment
D) seeking alternative strategies using competitive analysis
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