Strategy formulation is the process of:

Multiple Choice:

O gaining information about competition and then selecting which information to react to.

O choosing among different strategies and altering them to best fit the organization's needs.

O strategically controlling your employees' actions.

O selecting the employees who best fit the organization.

O developing a strong diversity plan

The correct answer is letter "B": choosing among different strategies and altering them to best fit the organization's needs.

Explanation:

Strategy formulation implies setting different plans of how to accomplish corporate goals including all the resources necessary to reach the firm's achievements and selecting one of them as the most suitable for the organization by which profits can be maximized. The strategy formulation process involves:

Establishing goals Evaluating the company's environment Setting measurable targets Aligning unit and corporate plans Performance analysis Selecting the best strategy