📚 Learning Guide
Business Strategy
medium

Arrange the following steps in the correct order for developing a successful business strategy: A) Conduct a SWOT analysis B) Define the organization's vision and mission C) Implement the strategy D) Evaluate and adjust the strategy as necessary

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Learning Path
Learning Path

Question & Answer
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2
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3
Learn Explanation
4
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Choose the Best Answer

A

B → A → C → D

B

A → B → D → C

C

B → C → A → D

D

A → C → B → D

Understanding the Answer

Let's break down why this is correct

Answer

First, the organization must define its vision and mission so everyone knows the ultimate purpose and direction. Next, a SWOT analysis is carried out to understand internal strengths and weaknesses and external opportunities and threats. With that insight, the strategy is implemented, putting plans into action. Finally, the results are evaluated and adjustments are made to keep the strategy on track. For example, a bakery could set a mission to provide fresh bread, analyze its strengths and market gaps, launch a new sourdough line, and then tweak pricing based on sales data.

Detailed Explanation

First the company sets a clear vision and mission, which gives the plan a purpose. Other options are incorrect because Some think starting with SWOT is best, but without a vision the strengths and weaknesses can be misinterpreted; This option skips the SWOT step, so the team builds a strategy without knowing what to improve.

Key Concepts

Business Strategy Development
SWOT Analysis
Strategic Implementation
Topic

Business Strategy

Difficulty

medium level question

Cognitive Level

understand

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