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Strategic formulation process

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What is the strategic formulation process, and what are the two primary processes in the strategic formulation process?

Text Book:
Deresky, H. (2011). International management: Managing across borders and cultures (7th ed.). Upper Saddle River, NJ: Prentice Hall.

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Solution Summary

This solution outlines the strategic formulation process and describes the two primary processes in the strategic formulation process.

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The strategic formulation process is the planning portion of the strategic management process. It includes long range, proactive planning, as well as more reactive planning. Strategic formulation begins with the company deciding or clarifying its mission and overall objectives. This mission and the company's objectives must be established so that all involved are aware of the company's aim or purpose. A ...

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