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Assignment Question(s):
Based on reading and understanding the basic concepts of strategic management in Chapter 01, answer the following:
Q.1What is ‘strategy formulation’? Explain your answeralongside a discussion of mission, vision and objectives of a local/ international company.(4 Marks)
Q.2 What are benefits of strategic management for market competition? develop a discussion of these benefitsalongside a local/international example of a company.(3 Marks)
Q.3What is the impact of sustainability on business practice? Discuss with a suitable example.(3 Marks)
Q.4Define strategic flexibility and explain its implications. Why is organizational learning important to the long-term development of strategic flexibility of organizations that intend to enter overseas markets?(5 Marks)
Use concepts from the Chapter in your textbook and at least three relevant academic sources to support and develop arguments for your answers.

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