BU 470 LESSON 1 EXAM | QUESTIONS AND ANSWERS | 2026 UPDATE | WITH COMPLETE SOLUTIONS | RATED 100% CORRECT.

,
, BU 470 LESSON 1 EXAM | QUESTIONS
AND ANSWERS | 2026 UPDATE | WITH
COMPLETE SOLUTIONS | RATED 100%
CORRECT.



SECTION 1: STRATEGIC MANAGEMENT PROCESS
(Questions 1-15)

Question 1
The strategic management process consists of which of the
following steps?

A) Planning, organizing, leading, controlling
B) Environmental scanning, strategy formulation, strategy implementation,
and strategy evaluation
C) Goal setting, budgeting, forecasting, and reporting
D) Analysis, design, development, and deployment

Correct Answer: B) Environmental scanning, strategy formulation,
strategy implementation, and strategy evaluation

Rationale: The strategic management process consists of environmental
scanning, strategy formulation, strategy implementation, and strategy
evaluation. It is a systematic way to analyze the current situation, develop
appropriate strategies, put those strategies into action, and evaluate and
change those strategies as needed.




Question 2