"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)

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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