(Solved): 11 A large company has fallen on hard times. They have replaced their Board of Directors. The new B ...

11 A large company has fallen on hard times. They have replaced their Board of Directors. The new Board believes that in order for the company to succeed, they need a new business strategy. To create a new business strategy, the company management already developed a mission and vision which is the first step. For the following questions, focus ONLY on the next step i.e. the second step. Other info will be ignored for grading.) a) What is name of the next step they should focus on for developing a new business strategy? (1 pt) b) Explain in detail (2-3 sentences) one of the questions/topics that must be addressed in the second step. (3 pts) c) In one sentence, explain why the answer to b) is critical to developing a good business strategy (1 pts)