Why are policies especially important in strategy formulation?
Answer to relevant QuestionsWhat is a “retreat” and why do firms take the time and spend the money to have these? What aspect of strategy formulation do you think requires the most time? Why? How can strategists best ensure that strategies will be effectively implemented? Why is it important for all business majors to study strategic management since most students will never become a chief executive officer or even a top manager in a large company? Why are strategic planning retreats often conducted away from the work site? How often should firms have a retreat, and who should participate in them?
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