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As a strategic manager in the future, define and explain what is the importance of long term objectives in business is. From these different strategies

As a strategic manager in the future, define and explain what is the importance of long term objectives in business is.
From these different strategies such as Forward Integration, Backward Integration, Horizontal Integration, Market Penetration, Market Development, Product Development, Related Diversification, Unrelated Diversification, Retrenchment, Divestiture, Liquidation, what is the most effective and efficient strategy for you? Explain.
How can balance scorecard help management in strategic planning?

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