500
Which of the following is an example of strategy
development?
a) Allocate resources to new market development.
b) Decide to market company products globally.
c) Motivate employees to increase sales.
d) Decide to cut personnel cost.
Answer: b
Strategic planning or development includes the steps (1) formulate the
mission statement, (2) analyze the firm’s internal environment, (3)
analyze the firm’s external environment, (4) select appropriate
strategies and create strategic business units, and (5) implement the
chosen strategies. Decide to market their product globally is one
example.