Question: which factor is the most important a) Identify your Vision - The companies overall mission has to be clearly defined. b) Business environment analysis -

which factor is the most important which factor is the most important a) Identify
which factor is the most important a) Identify
a) Identify your Vision - The companies overall mission has to be clearly defined. b) Business environment analysis - It may include PESTLE, SWOT to evaluate the business and the industry's state. c) Develop strategy alternatives - There then emerges a number of solution which can be adapted. d) Select the Best alternative e) Execution of the strategic plan over the business by allocating the appropriate resources Mark: In regards to Question 1, the factors that make up the strategic management process also include clarity of vision, gathering and analyzing information, formulating a corporate strategy, and evaluating and controlling the implemented strategy (Hitt et al., 2017). Which of these factors do you think is the most important in setting up a management strategy? Why? Explain and support your answer with sources from the readings, books, and/or business literature. Thanks

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