Question

During _____, 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.

Answer 1

strategy formulation

Step-by-step explanation:

Strategy formulation is one of the key purposes of business and organisation meetings. The main purpose of meetings is to decide the company's direction to proceed further. It helps to attain the company's objectives and goals. In strategic formulation, strategic decisions are made to overview the opportunities, threats, weaknesses and strengths. Mostly the higher management, the board of directors and team leaders are called for such meetings.