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1a. Please explain why it is important for companies to develop a strategy? 1b. Please name and explain the five strategic approaches that a company

1a. Please explain why it is important for companies to develop a strategy?

1b. Please name and explain the five strategic approaches that a company may pursue.

1c. Describe what is required for companies to have a successful strategy.

1d.Discuss which individuals are responsible for establishing corporate strategy and what role do these individual play?

1e. Explain the purpose of a strategic plan and what are the components of it?

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