![]() ![]() Management's decisions that are made in the strategic management process are shaped by the prevailing economic conditions and competitive environment and the company's own internal resources and competitive capabilities as shown in Figure 2.1 and described in detail in Table 2.1. Figure 2.1 displays the five-stage process. These issues typically fall into three distinct buckets: Challenge 1: Difficulties Analyzing and Reporting on Performance As a company expands across geographies and product lines, it becomes. actions to strengthen competitive capabilities and correct weaknesses, actions to strengthen market standing and competitiveness by acquiring or merging with other companies, and actions to enter new geographic or product markets. a company's customer value proposition and profit formula. ![]() external factors such as the industry's economic and competitive conditions and internal factors such as the company's collection of resources and capabilities. the decisions made by the compensation and audit committees of the board of directors. management's strategic vision, strategic and financial objectives, and strategy. The strategic management process is shaped by A. ![]()
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