What four components make up the strategy formulation process?

Your meeting with leadership went extremely well, and you have been given authority to begin the next phase of your strategic plan by formulating a strategy. What four components make up the strategy formulation process? Describe the role each plays in developing a strategic plan for a healthcare organization. Relate this phase to your hospital to illustrate your reasoning.

Prepare an outline of your strategy formulation process and include the four components with the last component comprising the subset of components needed for your strategic plan. You will be formulating a skeleton for your final strategic plan.

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