When the management of a company focuses on the activities of their competitors in order to see how they can be better, this is called a. assessing the current reality.
The Strategic Management Process ensures that a company comes up with strategies that will make it successful.
Step 2 of this process is called assessing the current reality and involves a company looking both internally and externally to assess its situation.
This step is done with the help of things such as:
All of these involve monitoring the activities of competitors so we can conclude that Lacriox's management is engaged in assessing the current reality.
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Options for this question include:
a. assessing the current reality
b. establishing mission, vision and values statements
c. strategic implementation
d. strategic control
e. formulating corporate, business, and functional strategies
