The development of long-range plans for the effective management of environmental opportunities and threats in light of corporate strengths and weaknesses is known as

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BlackTom AI · Accepted Answer

To analyze what the question is asking, consider that it describes the process of developing long-range plans for managing environmental opportunities and threats while considering a firm’s strengths and weaknesses. This framing points toward a higher-level, forward-looking planning activity rather than merely executing or evaluating actions.
Option a: Strategy control. This term typically refers to monitoring and adjusting strategy after it has been chosen, focusing on governance and ensuring adherence to the plan. It is more about oversight and control rather than the formulation of long-range plans itself, so this is not the best fit.
Option b: Strategy implementation. Implementation deals with putting the chosen strategy into action, translating plans into tasks, allocating resources, and executing initiatives. It occurs after formulation, not during the phase of developing long-range plans, so it does not match the described activity.
Option c: Strategic analysis. Strategic analysis involves examining internal capabilities and external environment to inform strategic decisions, often as part of the early stages of strategic planning. While it is closely related, the wording in the question emphasizes the development of long-range plans, which aligns more specifically with a formal formulation process rather than the broader analytical activity alone.
Option d: Strategy evaluation. This focuses on assessing the outcomes of strategy after implementation, measuring performance, and determining effectiveness. It is an evaluative phase, not the planning phase described in the prompt.
Option e: Strategy formulation. This term precisely captures the creation of long-range plans for managing environmental opportunities and threats in light of corporate strengths and weaknesses. It is the planning phase where goals, actions, and resource allocations are determined to position the firm for the future, matching the described activity exactly.

254_MGT4800_Strategic Planning_Fall 2025

The development of long-range plans for the effective management of environmental opportunities and threats in light of corporate strengths and weaknesses is known as

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