Question: Describe strategic planning. How does strategic planning differ from other forms of planning? What are the three components that make up a firm's external environment?

  • Describe strategic planning. How does strategic planning differ from other forms of planning?
  • What are the three components that make up a firm's external environment? Describe how a firm would assess each of the components.
  • Compare and contrast formulating corporate-level strategy with formulating SBU-level and functional area strategy.

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