Question: 1. Why is the mission statement the first step in the strategic management process? How does it relate to the other parts of the

1. Why is the mission statement the first step in the strategic management process? How does it relate to the other parts of the strategic management process and to a firm's business and corporate strategy? ( 2. The strategic management process encompasses three phases-strategy formulation, implementation, and evaluation and control. Discuss each phase. (* 3. Explain the relationship between strategic management and competitive advantage for firms. How can a firm achieve sustained competitive advantage?

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