principle of strategic_management

May 29th, 2015
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Abilene Christian University
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The Strategic Planning Process: In today's highly competitive business environment, budget-oriented planning or forecast-based planning methods are insufficient for a large corporation to survive and prosper. The firm must engage in strategic planning that clearly defines objectives and assesses both the internal and external situation to formulate strategy, implement the strategy, evaluate the progress, and make adjustments as necessary to stay on track.

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Strategic Management Need of Strategic Management:- 1. Due to change2. To provide guide lines3. Research and development4. Probability for business performance5. Systemized decision 6. Improves Communication 7. Allocation of resource 8.Improves Coordination 9.Helps the managers to have holistic approach Importance of Strategic Management:- 1. To the shape the Future of business2. Effective strategic idea3. Mangers and employer are innovative and creative4. Its decentralized the Management5. Its helps to increase the productivity6. To Makes discipline7. To Make control8. To makes forward s thinkingThe Strategic Planning Process: In today's highly competitive business environment, budget-oriented planning or forecast-based planning methods are insufficient for a large corporation to survive and prosper. The firm must engage in strategic planning that clearly defin

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