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As Part of the Strategic Management Process, Strategy Formulation Involves

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As part of the strategic management process, strategy formulation involves identifying and analyzing the existing mission, objectives, and strategies; analyzing the industry and external environment as well as organizational resources and capabilities; and revising the mission and objectives and selecting new strategies.


Definitions:

Greenfield

A refers to Patricia Greenfield, a psychologist known for her work on cultural effects on cognitive development.

Wolof Children

Refers to young individuals from the Wolof ethnic group, primarily found in Senegal, Gambia, and Mauritania, often studied in cross-cultural research on language and development.

Schooling

The process of receiving formal education in institutions like schools, typically involving subjects like mathematics, science, and literature.

Situated Cognition

The theory that knowledge is constructed within and influenced by the context in which it is used.

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