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Strategy Formulation
Strategy formulation

This chapter marks a shift from analysis toward recommendations. Reconsidering the firm's current strategic initiatives is the first step in evaluating its activities and thinking about what the firm should be doing.

After the firm's mission and ongoing strategic directions are well understood, the organization can begin to craft a strategy. The first step in this process, a SWOT (strengths, weaknesses, opportunities, and threats) analysis, enables top managers to position the firm to take advantage of ...

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