SOLUTION GDB 1 MGT603

As a strategic manager, I am agreeing on this statement in the light of the strategic management concepts
like the vision statement, mission statement, and SWOT analysis.

Strategic formulation means a strategy formulate to execute the business activities, Strategy formulation
includes developing:

Vision and mission:

The target of the business

Strength and weakness

Strong points of business and also weakness

Opportunities and threats

These are related with external environment for the business.

Some strategy formulation steps are as follows:

1. Allocation of resources
2. Business to entre or return.
3. Business to divest or liquidate.
4. Joint ventures or mergers.
5. Whether to expand or not.
6. Moving into foreign markets
7. Trying to avoid take over
Strategic management tries to bring together qualitative and quantitative information.