Which one of the following statements is correct with respect to the strategic management process? Available answer options Select only one option A Strategic planning involves three interdependent stages: strategy formulation, strategy implementation, and strategy evaluation. B Because insurance is closely regulated, strategic planning is less important for insurers than it is for other types of companies. C To be effective, strategy formulation must be independent of an organization's mission statement, and vision or value statement. D The first step in strategy formulation involves establishing aggressive but reasonable sales and profitability targets for the organization