Based on class notes, indicate which of the statements below about strategy formulation are true and which are false.

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Question $1$

$1$

Strategy formulation generally involves finding a niche market where customer needs are umet..

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Question $1$

$2$

Strategy formulation generally involves implementing a plan to acheive a company's goals.

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Question $1$

$3$

Strategy formulation generally involves finding a unique advantage within an industry.

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Question $1$

$4$

As defined in class notes, a competitive advantage is sustainable over the long$-$term.

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