When companies adopt the strategy formulation, strategy execution process, the first step is to

Group of answer choices

adopt a proven business model, decide on the company$$s top management team, and craft a strategy.

monitor internal and external developments and initiate corrective adjustments to the business model when necessary.

set objectives and develop a profitable business model to meet those objectives.

develop a strategic vision, mission, and values.

execute the company$$s chosen strategy efficiently and effectively.$\backslash$