Western Governors University (WGU) BUS2080 D081 Innovative and Strategic Thinking - Practice Test

Question: 1 / 400

A CEO has asked a task force team to investigate a decrease in market share and develop a plan to improve the stream of revenue. Which stage of the strategic decision-making process should the team use first?

Implement the solution

Identify the problem

The initial step in the strategic decision-making process is to identify the problem. In this scenario, the task force team has been asked to address a specific issue: the decrease in market share. This stage is critical as it involves thoroughly understanding the problem at hand, analyzing the root causes, and gathering relevant data to ensure that any subsequent actions are based on a clear understanding of the situation. Properly identifying the problem lays the groundwork for developing effective solutions and strategies to improve revenue streams. By focusing on identifying the problem first, the team can ensure that their efforts are directed toward the most pressing issues rather than jumping prematurely into potential solutions or evaluations without a solid foundation of understanding. This approach is essential for making informed, strategic decisions that are aligned with the organization's overall goals.

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Evaluate alternatives

Communicate results

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