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Describe the strategy formulation process

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Reference no: EM132833121

Strategic Management is a discipline that requires the continuous interrelationship among various functional managers. As a business strategy Management Trainee you are required to answer the following questions by supporting each response to detailed examples.

Required:

a. In one of the definitions used by Pearce and Robinson, Strategic management was described as the "art and science of formulating, implementing and evaluating crossfunctional decisions aimed at achieving organizational goals";

Briefly discuss the context in which strategic management could be described as 'an art' and when it also could be described as 'a science'.

b. Describe the strategy formulation process; clearly explaining three major activities that are undertaken at this stage?

c. Distinguish between business level strategies and corporate level strategies; clearly giving examples under each.

d. Differentiate between strategy and tactics

Reference no: EM132833121

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