Strategic management

Strategic management is the process of planning, organizing, and executing a firm’s strategy to achieve its overall objectives.

The goal of strategic management is to create a competitive edge for the organization over its rivals, while also ensuring profitability and sustained growth.

In order to achieve these goals, managers must understand their company’s strengths and weaknesses, and identify which strategies will best achieve their objectives. They must also assess the likely impact of alternative strategies on the company’s performance, and make decisions accordingly.

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