12. Which of the following statements is true about strategy formulation? a. The strategy development process typically ows in a linear fashion. b. Managers should engage in environmental scanning on an ongoing basis. c. All aspects of a firm's strategy are more susceptible to frequent changes. d. The formulation of strategy is the last step toward achieving profitability. ANS: B PTS: 1 DIF: Moderate NAT: BUSPROG: Analytic STA: DISC: Strategy TOP: A-head: Strategy and the Organization: A Framework KEY: Bloom's: Comprehension