Which of the following stages of the strategic management process involves an evaluation of a firm's external and internal environments?

A. Strategy analysis

B. Strategy implementation

C. Strategy formulation

D. Strategy control

Answer is option A, i. e. Strategy analysis.

Explanation:

Strategy analysis can be understood as a process of evaluating the environment in which the business operates. This environment includes both internal as well as external environment. For a business to be successful, it is important that both internal, as well as the external environment, should be taken into consideration. Therefore, the correct answer is option A.