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What Are the Five Major Components of the Strategic Management

question 66

Essay

What are the five major components of the strategic management process that are relevant to strategy formulation?
Then use a SWOT format to identify for your company or future company its mission,strengths,weaknesses,opportunities,and threats.


Definitions:

Collections

The process of gathering or accumulating something, often refers to the process of obtaining payments from customers.

Accounts Receivable

Signifies the amount customers owe to a business for products or services that have been provided but not yet compensated for.

Budgeted Selling Price

The anticipated price at which a product is expected to be sold, as determined during the budgeting process.

Raw Material Purchases

Costs associated with buying materials that are directly used in the production of goods.

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