BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Capital Market Stakeholders
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Product Market Stakeholders
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Organizational Stakeholders
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Strategic Leaders
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Detailed explanation-1: -those who will be implementing the plan (e.g. management, staff, volunteers) those who will be affected (e.g. members, users, etc) those who will monitor its implementation (e.g. Management Committee) others who can contribute to its development (e.g. community activists, funding bodies, etc)
Detailed explanation-2: -The four phases of strategic management are formulation, implementation, evaluation and modification.
Detailed explanation-3: -Implement Your Strategy Successful strategy implementation is critical to the success of the business venture. This is the action stage of the strategic management process.
Detailed explanation-4: -This stage is normally known as the “action stage” of the strategic management. Implementing strategies means mobilizing and motivating managers with their employees to put formulated strategies into action.