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Category: Religion
Word Count: 320
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     MANAGING STRATEGY AND STRATEGIC PLANNING


I.     THE NATURE OF STRATEGIC MANAGEMENT

Strategy—comprehensive plan for accomplishing a firm's goals.

Strategic management—comprehensive and ongoing process aimed at formulating and implementing effective strategies.

Effective strategies—those that promote a superior alignment between the firm and its environment and the achievement of strategic goals.

A.     The components of strategy

Scope—specifies the range of markets in which a firm wi

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