"Most SME owner/managers have limited knowledge in the area of strategic planning. Some indicated that they do not plan because of the size of the business." "Some admitted that they still possess the traditional based thinking where most business decisions are based on intuition." Majama and Magang, 2017 a. The above may be attributable to lack or poor strategy formulation. Illustrate your understanding of strategy formulation by articulating the four options of growth rate of a general market and the company's competitive position. (10 marks)

"Most SME owner/managers have limited knowledge in the area of strategic planning. Some indicated that they do not plan because of the size of the business." "Some admitted that they still possess the traditional based thinking where most business decisions are based on intuition." Majama and Magang, 2017 a. The above may be attributable to lack or poor strategy formulation. Illustrate your understanding of strategy formulation by articulating the four options of growth rate of a general market and the company's competitive position. (10 marks)

Principles of Management

OER 2019th Edition

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax

Chapter9: The Strategic Management Process: Achieving And Sustaining Competitive Advantage

Section: Chapter Questions

Problem 7CRQ: What are the strategic planning time frames? How do they work together?

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