Managers at Dimensions, Inc., analyze the current situation of their organization and then develop plans to help their organization accomplish its mission and achieve its goals. This is known as ________.

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In strategy formulation, managers work to develop the set of strategies that will allow an organization to accomplish its mission and achieve its goals. Strategy formulation begins with managers systematically analyzing the factors or forces inside an organization and outside in the global environment that affect the organization's ability to meet its goals now and in the future.