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Strategy formulation involves the study. The Research
Chapter describes the
methods. The focus is on both the external environment and the internal
environment of the firm.
Who does it?
There are many approaches, usually:
- Assign the work to the team members in pairs, mix the experience
levels and cross-functional responsibilities. The learning is across
the firm. The mix in experience levels should challenge status quo.
- Assign the big picture work to the team and have Marketing, R&D or
Business Development coordinate the detailed research.
- Assign the big picture to the team and bring in outside consultants
to present detailed research.
The conclusions of the research are shared with the team before the
next meeting. People prefer to see a summary of the conclusions rather
than the raw data.
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