BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -In addition to merging with another company, a company can also create synergy by combining products or markets, such as when one company cross-sells another company’s products to increase revenues.

Detailed explanation-2: -Strategic management is defined as the process of evaluation, planning, and implementation designed to maintain or improve competitive advantage. The process of evaluation is concerned with assessment of the external and internal environments.

Detailed explanation-3: -Strategic management is the ongoing planning, monitoring, analysis and assessment of all necessities an organization needs to meet its goals and objectives. Changes in business environments will require organizations to constantly assess their strategies for success.

Detailed explanation-4: -Strategic management provides overall direction by developing plans and policies designed to achieve objectives and then allocating resources to implement the plans. Ultimately, strategic management is for organisations to gain a competitive edge over their competitors.