as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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what are the four elements of business strategy?
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the four elements of business strategy are environment analysis, industry analysis, competitor analysis, and strategic planning. environment analysis looks at the internal and external environment of a business, such as its goals, resources, and culture. industry analysis looks at the industry in which the business exists, such as its structure, competitors, and customers. competitor analysis looks at the moves of competitors, as well as their strengths and weaknesses. lastly, strategic planning plans the groundwork for a strategy to reach the company’s goals.
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