What Is Strategic Management

Answer Strategic Management can be defined as the art and science of formulating, implementing, and evaluating cross-functional decision that enables an presidency to achieve its objectives. As this definition implies, strategies management focuses on integrating management, marketing, finance/accounting, ancestry/operations, research and development, and computer information systems to achieve ecesisal winner besides strategy must be closely line up with purpose. Is this the member of specifying an organizations objectives, developing policies and plans to achieve these objectives, and allocating resources so as to implement the plans. It is the highest level of managerial activity. It is not a task, but a rather a set of managerial skills that ought to be exerted throughout the organization, in a wide array of functions. An organizations strategy must be appropriate for its resources, environmental circumstances, and core objectives. The process involves matching the companys strategic advantages to the wrinkle environment the organization faces. One objective of an overall in unifiedd strategy is to put the organization into a position to contract out its mission effectively and efficiently.

A good corporate strategy should integrate an organizations goals, policies, and tactics into a cohesive whole, and must be based on business realities. Business enterprises can fail despite excellent strategy because the initiation changes in a way they failed to understand. Strategy must get in touch with vision, purpose and likely future trends. Strategic management is an on going process depends on the nature and needs of the organization and its immediate external environment. Some organization has been around for many a(prenominal) years and is in fairly stable marketplace, whose products and services are in an industry that is changing rapidly. The strategic management process is based on the belief that organization should continually admonisher internal and external events... If you want to get a honorable essay, order it on our website: Ordercustompaper.com

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