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After acknowledging the firm’s reason of existence, the subsequent step the firm must carry is to develop corporate strategies that outline how the business must be conducted. Finding ways to increase the number of business activities; which are in-line with the core of the business, helps the firm penetrate untapped markets and remain competitive. The company must always alter its ways of doing or even its business activities when exposed to changes in the corporate environment. But the question here is until what point? The firm must find the right balance between the number of new advances that can be brought to the company and the expected payoff of these advances...
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