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Strategic management is the assembling and management of resources to achieve a company's goals and objectives. Companies create and adapt a strategic management process...
This introductory chapter is intended to enable you to understand what strategic management is and why it is important. Because strategy is a complex concept, we begin by explaining five different ways to think about what strategy involves (Table 1.1 “Defining Strategy: The Five Ps”).
Strategic management is the ongoing planning, monitoring, analysis and assessment of the resources and processes an organization should have in place to meet its goals and objectives. Because business environments are dynamic, an organization must constantly assess its strategies to stay competitive and meet its long-term objectives.
Strategic management involves developing and implementing plans to help an organization achieve its goals and objectives. This process can include formulating strategy, planning organizational structure and resource allocation, leading change initiatives, and controlling processes and resources.
Strategy defines the company’s distinctive approach to competing and the competitive advantages on which it will be based. A good competitive strategy is one that creates unique value for a particular set of customers.
Strategic management, strategy for short, is essentially about choice — in terms of what the organization will do and won’t do to achieve specific goals and objectives, where such goals and objectives lead to the realization of a stated mission and vision.
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization 's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. [ 1 ][ 2 ][ 3 ][ 4 ] St...
What is Strategic Management? Strategic management is the formulation and implementation of major objectives and projects, by an organization’s management on behalf of its shareholders (or owners).
STRATEGIC MANAGEMENT offers an introduction to the key topics and themes of strategic management. The authors draw on examples of familiar companies and personalities to illustrate the different strategies used by today’s firms—and how they go about implementing those strategies.
Strategic management is the systematic planning, management, and use of available resources to ensure a business specifies and achieves its goals. It also comprises strategy evaluation, a review of internal processes and external factors, resource allocation, and competition analysis.