Which step comes after defining the mission in the strategic management process?

After defining the mission in the strategic management process, the next step focuses on formulating a plan. This is crucial because the mission statement outlines the organization's purpose and direction, serving as a foundation for setting specific goals and strategies. In this phase, management assesses the organizational environment and identifies opportunities and threats, leading to the development of detailed strategies that align with the mission.

Formulating a plan involves analyzing the internal capabilities and external market conditions to determine the best course of action for achieving the organization's objectives. This includes setting measurable goals and deciding how resources will be allocated to successfully implement the mission.

Understanding this sequence is vital, as each step builds on the previous one, ensuring that the strategic plan is grounded in a clear understanding of the organization's purpose as articulated in its mission statement.