According to the text,formulating strategy includes taking into consideration strategy at the business,corporate,and international levels.

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The strategy formulation decisions of a firm are developed at several levels. First, business-level strategy addresses the issue of how to compete in a given business to attain competitive advantage. Second, corporate-level strategy focuses on two issues: (a) what businesses to compete in and (b) how businesses can be managed to achieve synergy. Third, a firm must develop international strategies as it ventures beyond its national boundaries. Fourth, managers must formulate effective entrepreneurial initiatives.

According to the Text,formulating Strategy Includes Taking into Consideration Strategy