strategic management plays an important role in an organization as it is largely involves managers , executives or strategies in making critical alternative decision based on objective information . to make successful decisions the senior managers are responsible for formulating the corporate strategy.

A. Explain using your thinking skills , the three key procedures a firm can go about while formulating the strategy. ( use the strategy- formulation analytical framework)

B. Discuss , present tools the board of directors can use to provide guidance on each procedure within their organization. ( eg : corporate governance )