Question

In developing its future strategy, CVS is focusing on Amazon, which is expanding into the healthcare business. What stage of the strategic management process does this represent?

a. Execute the strategies
b. Maintain strategic control
c. Assess the current reality
d. Formulate corporate, business, and functional strategies
e. Establish the mission, vision, and values statements

Answer 1

Answer: c. Assess the current reality

Explanation:

The stage of the strategic management process does this represent is assess the current reality. This is done in order to ascertain where the company stands. At this stage, anything that could be done differently in order to maximize efficiency is done. Some of the tools that are being used to address current reality are SWOT analysis, Benchmarking and forecasting.