Describe the three steps in strategy formulation.

jjolivette

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6 years ago

Describe the three steps in strategy formulation.

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Business Essentials, Canadian Edition

Edition: 8^th

Authors: Ebert, Griffin, Starke, Dracopoulos

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MrEdd

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6 years ago

The three steps in strategy formulation are:
- Setting strategic goals: long-term goals derived directly from a firm's mission statement
- Analyzing the organization and its environment: process of scanning the environment for threats and opportunities
- Matching the organization and its environment: process of analyzing a firm's strengths and weaknesses

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