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Strategy Formulation

Formulating strategy involves:-

•    Mission statement
•    Defining aims/goals
•    Objectives/targets
•    Assessing external environment
•    Industry analysis – life cycle
•    Environmental forecasting
•    Actual strategy formulation
Assessing the External Environment Basic firm/industry life cycle of Motor manufacturing
Defining mission/purpose Defining strategic aims and goals
Industry analysis (Business Life Cycle) Objectives
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