The next step after 'defining the current business' is to?
Correct answer: A. external and internal audit
- A. external and internal audit
- B. Formulating a new direction
- C. Formulating strategies
- D. Implement the strategies
Explanation
After defining the current business, an organization examines its external environment and internal capabilities through an external and internal audit. This diagnosis precedes setting a new direction or formulating strategies.
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About Principles of Management
Management principles explain how organisations set objectives and coordinate people and resources to achieve them. Coverage includes planning, organising, staffing, directing, coordinating and controlling, along with authority, responsibility, delegation, span of control and the levels of management. These functions are related but not interchangeable, especially planning and controlling.
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