Management Strategy

STRATEGIC MANAGEMENT: IMPORTANCE, MODES, & PROCESS strategical management put forward be defined as a continuous, iterative subroutine aimed at keeping an organization as a all in all appropriately matched to its environment. Strategic management constitutes a mind-set, an procession to looking at the changes in the internal and external environment. The strategic management process is a series of steps that non only formalize the process, but also give a clear path to the firms management as to how the process should be completed. It implys environmental analysis, establishment of organizational direction, strategy formulation, strategy implementation and strategic control. Challenges to strategic management include globalization (internationalization of markets and corporations) and electronic commerce (use of the internet to conduct agate line transactions). To conciliate to ever-changing environmental conditions the strategies designed must be flexible (strategic flexibility). If you fail to plan, you are planning to fail. By acting on this saying, strategic management gives the organization a sense datum of direction, identity and unity towards the overall business goal.

Strategic management focuses on answering three important questions: steps IN STRATEGIC DECISION-MAKING: Lastly, strategic management gives a clearer sense of strategic vision for the firm, sharper focus on what is strategically important and improved understanding of a rapidly changing environment. As more industries become global, strategic management is decorous an important way to keep track of international ontogeny and position the company for long-term competitive advantage. Firms must read that they must shift from a vertically organized, top-down flake of organization to a more horizontally managed, interactive organization. globalization creates opportunities but also poses threats to firms that are not able to adapt firmly enough. This increasing pressure on firms (for a quick response to changing... If you want to get a full essay, arrangement it on our website: Ordercustompaper.com

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