Strategy formulation – tools
Watch the video and then summarise what you have learned.
In the current literature, there are several tools in the strategic toolbox that deal with the external attributes of a business as well as its internal capabilities, including SWOT analysis, PESTLE, 5-forces, and competition analysis.
These models are important because they help build a strategic business plan based on solid strategic analysis. However, one of the issues currently is the confusion and inapplicable use of these tools at the wrong level.
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