The organizational-management process consists of seven steps: (1) doing research, (2) establishing the mission and vision, (3) assessing the current reality, (4) formulating the grand strategy, (4) implementing the strategy, (6) maintaining strategic control, and (7) maintaining the feedback loop.

The answer is false

Explanation:

The organizational-management process actually comprises five steps and they are:

1. Establishing the mission and vision - This is always the first step. Management sets its mission and vision for the organization. This mission and vision is what guides them, their goals and their core values.

2. Assessing the current reality. Here, the company evaluates through doing research how it is doing compared with Competitors. And what it can do better.

3. Formulating the grand strategy. Strength, weakness, threat and opportunity should be revealed through assessing the current reality. Setting realistic goals and objectives should be the target here.

4. Implementing the strategy. Implementing the grand strategy is the next in line. There must be adequate resources to implement the strategy.

5. Maintaining strategic control which also encompass the feedback loop.

answer(d) the growth of consumption is likely to remain sluggish even as the economy begins to recover.;