QUESTION FOUR $[25]$ Delta Pharmaceuticals is a mid$-$sized pharmaceutical company specializing in the development and production of generic medications. With a focus on affordable healthcare solutions, Delta Pharmaceuticals operates in a competitive market, facing challenges such as patent expirations, regulatory changes, and evolving customer demands. The company seeks to develop a comprehensive strategy to drive growth, enhance competitiveness, and ensure long$-$term sustainability. Currently Delta Pharmaceuticals faces several challenges that necessitate strategic planning that include the following: Market Competition: Intense competition from other generic drug manufacturers and emerging players. Regulatory Environment: Evolving regulatory landscape affecting product approvals, pricing, and market access. Innovation and Differentiation: Need to innovate and differentiate products to stand out in the market. Global Expansion: Opportunities to expand into new markets while managing risks associated with international operations. Cost Efficiency: Pressure to maintain cost efficiency in research, development, and production processes. Delta Pharmaceuticals have appointed you to develop a strategy that include the following objectives: Achieve sustainable revenue growth through product diversification and market expansion. Enhance brand recognition and customer loyalty through innovative product offerings. Optimize operational efficiency to reduce costs and improve profitability. $4$ Expand into new geographic markets while ensuring regulatory compliance. Develop a robust pipeline of new generic medications to capitalize on market opportunities. Required: Identify the steps in the strategy development process and suggest key strategic objectives that need to be addressed.