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What Is Strategic Management ? Please Define it .

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Sumit asked over 2 years ago

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Pankaj answered over 2 years ago

Let me informed that Strategic Management is all about identification and description of the strategies that managers can carry so as to achieve better performance and a competitive advantage for their organization. or it can be said that Strategic management is the continuous planning, monitoring, analysis and assessment of all that is necessary for an organization to meet its goals and objectives. Strategic management can also be defined as a bundle of decisions and acts which a manager undertakes and which decides the result of the firm’s performance. process involves The strategic management process involves analyzing cross-functional business decisions prior to implementing them. Strategic management typically involves: Analyzing internal and external strengths and weaknesses. Formulating action plans. Executing action plans. Evaluating to what degree action plans have been successful and making changes when desired results are not being produced. Strategic management necessitates a commitment to strategic planning, which represents an organization's ability to set goals to determine the decisions and actions that need to be taken to produce those results

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