Rand Solar Technologies Ltd.is planning its future.In the process,the senior leadership team is preparing the organization's objectives,competitive scopes,and action plans to achieve its goals.What is the leadership team doing?

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The leadership team is formulating the organization's strategy by preparing its objectives, competitive scopes, and action plans to achieve its goals. This is a key component of strategic management, which involves analyzing the organization's internal and external environment, setting goals, and creating a plan of action to achieve those goals. While conducting a SWOT analysis and identifying the organization's competitive advantage are important steps in strategic management, they do not encompass the entire process of formulating a strategy.