BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Strategic Management
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Operation Management
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Goals Management
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Single Use Management
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Detailed explanation-1: -Question: Steps in the Strategic Management Process Strategic management involves managers from all parts of the organization in the formulation and implementation of strategic goals and strategies.
Detailed explanation-2: -A more formal definition tells us that strategic management “is the process by which a firm manages the formulation and implementation of its strategy.”
Detailed explanation-3: -Aspects of Strategic Implementation Employ a team of highly skilled and experienced professionals to tackle individual supporting projects. Improve internal communication to ensure all team members have the support and knowledge they need. Develop procedures or policies which help teams better achieve their goals.
Detailed explanation-4: -Strategy formulation is the process of using available knowledge to document the intended direction of a business and the actionable steps to reach its goals. This process is used for resource allocation, prioritization, organization-wide alignment, and validation of business goals.