Saturn Inc. is a large manufacturer of footwear and accessories. It has always lagged behind its closest competitor Hexagon Inc. It plans to overtake Hexagon by leveraging its strength in women's footwear and entering markets in the Mid-West that it had traditionally ignored. Saturn Inc. is in the _____ phase.

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During strategy formulation, the strategic planning groups decide on a strategic direction by defining the company's mission and goals, its external opportunities and threats, and its internal strengths and weaknesses. They then generate various strategic alternatives and compare those alternatives' ability to achieve the company's mission and goals.