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Guiding principles of strategy

1- Considering the external environment faced by organizations in the 21st century, what factors do you believe should form the guiding principles of strategy?

2-Locate an organization in the news and explain how it is trying to create value and competitive advantage in its sector.

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1- Considering the external environment faced by organizations in the 21st century, what factors do you believe should form the guiding principles of strategy?

Environmental analysis is an essential element of formulating strategy. Srategy is about:
"* Where is the business trying to get to in the long-term (direction)
* Which markets should a business compete in and what kind of activities are involved in such markets? (markets; scope)
* How can the business perform better than the competition in those markets? (advantage)?
* What resources (skills, assets, finance, relationships, technical competence, facilities) are required in order to be able to compete? (resources)?

* What external, environmental factors affect the businesses' ability to compete? (environment)?
* What are the values and expectations of those who have power in and around the business? (stakeholders)"
As per quickmba, "Strategic planning clearly defines objectives and assesses both the internal and external situation to formulate strategy, implement the strategy, evaluate the progress, and make adjustments as necessary to stay on track."
External Environmental analysis tells about the opportunities and threats.
Some important factors:
Macro Economic environment

As per wikipedia "The gross domestic product (GDP) is one of the measures of national income and input for a given country's economy. GDP is defined as the total cost of all finished goods and services produced within the country in a stipulated period of time (usually a 365-day year). It is sometimes ...

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Response discusses the Guiding principles of strategy

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