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  3. explain which of the following approaches to strategy formulation is...

Question: explain which of the following approaches to strategy formulation is...

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Explain which of the following approaches to strategy formulation is more likely to generate economic profits: (a) evaluating external opportunities and threats and then developing resources and capabilities to exploit these opportunities and neutralize these threats: or (b) evaluating internal resources and capabilities and then searching for industries where they can be exploited.

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