Upon establishing a mission statement, the next step is to analyze the external environment in which the organization operates consistent with the ___________model of strategic management.

A. HRM

B. I/O

C. RBV

D. IPO

Strategic planning is usually done over _________________ time horizons by senior management, with a major review of the strategic plan on an annual basis or when some significant change impacts the organization, such as a merger or acquisition, or its environment.

A. three- to five-year

B. one- to three-year

C. five- to seven-year

D. two- to four-year