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ADVANCE BANK CASE STUDY MACROENVIRONMENTAL ANALYSIS Strategy formulation is undertaken by individuals for an organization existing in a relationship to a dynamic external environment and an evolving internal environment . To make critical strategic decisions, it is essential to gain an understanding of the environment in which the organization operates. By focusing on environmental factors using macroenvironmental analysis or trends assessment, it is possible to understand, anticipate, and respond to external and internal changes as a part of the strategic planning process. The amount of analysis necessary is determined by how much the organization interacts with the external environment. Analysis of external opportunities and threats is of primary importance in planning for the future of these organizations. A macroenvironmental analysis is the first step in the strategy formulation process. The focus of the analysis may involve an assessment of a number of areas of the environment including the political, economic,...

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