Process of Strategy Formulation

Process of Strategy Formulation

Strategy formulation is the process of defining an organization's direction and making decisions on allocating resources to pursue this direction. It involves several steps aimed at achieving long-term goals and adapting to environmental changes.

1. Environmental Scanning: This initial step involves analyzing internal and ________ _________ _______ _________ ______ ___ ___ ________ _______ ___ ________.
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