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The 21 st century has become more complex for the business leaders to maintain and
stabilize with the growing competition and changing trends efficiently. This has given the
importance of strategy in each and every business transactions. It can be said that without a well-
defined strategy, no business can achieve their organizational goal resourcefully (Papulova,
2014). The report is based on the journal article authored by Porter (1996). The article is based
on five assumptions about strategic
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