Devise a corporate strategy and apply strategic management process to it

General Standard, a large conglomerate is a manufacturer of thermometers. Your primary customers are large companies (B2B) who purchase the thermometers for further usage or retail selling. Such as pharmacies, hospitals and health care clinic. Over the last several years, however, low-cost overseas competitors have pulled away many of the company’s long-time customers. General Standard has become concerned about the loss of market share and declining profit. You, as general manager, have been asked to put together a recovery plan to present to the General Standard board of directors. Devise a corporate strategy and apply strategic management process to it.