principle of strategic_management

May 29th, 2015
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Abilene Christian University
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Strategic management is a field that deals with the major intended and emergent initiatives taken by general managers on behalf of owners, involving utilization of resources, to enhance the performance of firms in their external environments.[1] It entails specifying the organization's mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs. A balanced scorecard is often used to evaluate the overall performance of the business and its progress towards objectives. Recent studies and leading management theorists have advocated that strategy needs to start with stakeholders expectations and use a modified balanced scorecard which includes all stakeholders.

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Strategic managementis a field that deals with the major intended and emergent initiatives taken bygeneral managerson behalf of owners, involving utilization ofresources, to enhance the performance ofrmsin their external environments.[1]It entails specifying theorganization's

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