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Which of the following is not one of the steps in the strategic management process?
Net Operating Income
Earnings before interest and taxes (EBIT), representing the profit from regular business operations.
Common Fixed Expenses
Costs that do not change with the level of production or sales over a certain period and are shared among different segments or products of a business.
Total Fixed Expenses
Expenses that do not fluctuate with changes in production level or sales volume, such as rent, salaries, and insurance.
Net Operating Income
The profit a company makes after deducting operating expenses, excluding interest and taxes.
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