The company's plan for how it will balance its internal strengths and weaknesses with external opportunities and threats to maintain a competitive advantage is known as

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This is the definition of strategy, as it involves analyzing the company's internal and external environment to develop a plan for maintaining a competitive advantage. HR strategy focuses specifically on human resources, while environmental scanning is a component of strategy as it involves analyzing external factors. Policies and procedures are important components of operational management, but do not necessarily involve strategic planning.

The Company's Plan for How It Will Balance Its Internal