What is the term for the action in which managers at an organisation analyse the current situation of their organisation and then develop plans to accomplish its mission and achieve its goals ?

CS Executive · Financial and Strategic Management · PYQS · December 2020
What is the term for the action in which managers at an organisation analyse the current situation of their organisation and then develop plans to accomplish its mission and achieve its goals ?
(A) Synergy planning
(B) Strategy formulation
(C) Functional planning
(D) SWOT analysis

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Strategic Management

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