📚 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

Master this concept with our detailed explanation and step-by-step learning approach

Learning Path
Learning Path

Question & Answer
1
Understand Question
2
Review Options
3
Learn Explanation
4
Explore Topic

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

You first set a clear vision and mission; that tells the whole company what it wants to achieve. Other options are incorrect because This order starts with a SWOT analysis before explaining the company's purpose, which leaves the analysis aimless; It jumps straight from vision to implementation, skipping the SWOT review that tells you what to focus on.

Key Concepts

Business Strategy Development
SWOT Analysis
Strategic Implementation
Topic

Business Strategy

Difficulty

medium level question

Cognitive Level

understand

Ready to Master More Topics?

Join thousands of students using Seekh's interactive learning platform to excel in their studies with personalized practice and detailed explanations.