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Which of the following is the first step in the process of strategic management?
Economic Income
The total value of all income generated by the assets of an individual or organization, including both realized and unrealized gains.
Net Worth
The total value of an individual's or organization's assets minus their liabilities.
Net Worth
The difference between the total assets and total liabilities of an individual or business.
Normative Question
A question that addresses how things should be rather than how they are, often involving subjective judgments and values.
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