BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Strategic management is a way in which strategists set the objectives and proceed about attaining them. It deals with making and implementing decisions about future direction of an organisation. It helps us to identify the direction in which an organisation is moving.

Detailed explanation-2: -A SWOT analysis is one of the types of strategic management frameworks used by organizations to build and test their business strategies. A SWOT analysis identifies and compares the strengths and weaknesses of an organization with the external opportunities and threats of its environment.

Detailed explanation-3: -Evaluation of strategy is done by the top managers to determine whether their strategic choice is implemented in a manner that it is meeting the organization’s objectives. Evaluation emphasizes measurement of results of a strategic action.

Detailed explanation-4: -Strategic management is the set of managerial decision and action that determines the long-run performance of a corporation. Strategic management has now evolved to the point that it is primary value is to help the organization operate successfully in dynamic, complex environment.

Detailed explanation-5: -Strategic planning is a process in which an organization’s leaders define their vision for the future and identify their organization’s goals and objectives. The process includes establishing the sequence in which those goals should be realized so that the organization can reach its stated vision.