Holt Tractor Company Needs a New Strategic Plan as a Result

Multiple Choice

Holt Tractor Company needs a new strategic plan as a result of losing market share to other farm equipment companies.A management team at the firm is following the steps of the strategic management process.So far,the team has performed external and internal audits.What is the next step in the strategic management process?

A) evaluating the firm's performance
B) defining the business and its mission
C) formulating a new mission statement
D) developing a competitive strategy