BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A pattern of actions and resource allocations designed to achieve the organization’s goals. A set of procedures for translating broad strategic goals and plans into specific goals and plans that are relevant to a particulr portion of the organization, such as a functional area like marketing.

Detailed explanation-2: -Resource allocation is the process of managing and allocating assets to support a company or organization’s strategic goals. These resources can be anything from money to talent to management focus and attention.

Detailed explanation-3: -Strategic management involves managing an organization’s resources, analyzing internal and external forces, and developing strategies to realize goals and objectives. There are five key phases that can help businesses execute their strategies.

Detailed explanation-4: -Strategic management is the planned use of a company’s resources to reach its goals and objectives. Strategic management requires ongoing evaluation of internal processes and external factors that may impact how a company functions.

Detailed explanation-5: -Strategic management serves as the foundation for every important decision an organisation makes. It gives overall direction by creating plans and policies intended to achieve goals and then assigning resources to implement the plans.