Green Frog is an environmentally friendly firm in the cosmetics industry that has decided to undertake a strategic planning project. It wants to ensure that it performs the strategy formulation process correctly and intends to start the process with the first step which is:

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BlackTom AI · Accepted Answer

To analyze the question, I’ll enumerate each option and explain what it implies in the context of the strategy formulation process.

Option a: Defining its mission. This answer makes sense as an initial step because mission statements articulate the organization’s purpose, core values, and scope of operations. Establishing the mission provides a north star for subsequent steps like setting objectives and choosing strategies, aligning everyone around a shared purpose.

Option b: Defining its business level strategy. This is typically a later step in the formulation process, after the mission and objectives are clarified. The business-level strategy translates the mission and objectives into actions at the product/market level, but it presupposes a clear mission and overall objectives.

Option c: Measuring performance. Performance measurement is important for feedback and control, but it usually follows the establishment of objectives and performance standards. It is part of the implement-and-monitor phase rather than the very first step in formulating strategy.

Option d: Setting objectives. Defining objectives often follows the mission, providing specific, measurable targets to guide strategy. While crucial, objectives rely on a clearly stated mission to ensure alignment and coherence across the firm’s planning.

Option e: Evaluate the competition. Competitive evaluation is part of external analysis and situational assessment. While important, it’s usually conducted after the foundational elements (mission and objectives) are in place so that findings can inform strategic choices rather than starting the process.

In summary, the reasoning for the ordering hinges on establishing a foundational purpose before moving to strategy translation, performance targets, and external assessments. The mission statement serves as the guiding backbone for all subsequent strategic decisions, ensuring coherence across the plan.

254_MGT4800_Strategic Planning_Fall 2025

Green Frog is an environmentally friendly firm in the cosmetics industry that has decided to undertake a strategic planning project. It wants to ensure that it performs the strategy formulation process correctly and intends to start the process with the first step which is:

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