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This helped in some development of my strategic plan.
For example, if the CEO of a company wants to establish a strong competitive position and cares less about profits in the short-term, then a possible strategy would be to keep prices low in order to establish the company within the market. In order to arrive at an objective, one must analyze the internal and external environments. External analysis is done at a higher cost because information needs to be gathered and analyzed. Also, external data is not readily available and it may take time to obtain. Internal environmental analysis can be obtained at a fraction of the cost and is usually readily available...
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