Strategy formulation begins with an analysis of a firm's internal processes and capabilities.

Name: Strategy formulation begins with an analysis of a firm's internal processes and capabilities.
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Quizplus · Accepted Answer

Strategy formulation actually begins with an analysis of the external environment and internal capabilities, not just internal processes. This includes evaluating opportunities and threats in the external environment as well as strengths and weaknesses within the organization.

Strategy Formulation Begins with an Analysis of a Firm's Internal