Purposes of Strategic management

May 29th, 2015
Studypool Tutor
A. T. Still University
Course: strategic_management_
Price: $25 USD

Tutor description

Strategic Management is that set of managerial decisions and actions that determines the long run performance of an organization. It is an important task of managers and entails all of the basic managerial functions.

Word Count: 1075
Showing Page: 1/17
Strategic ManagementWhat is Strategic Management? Strategic Management is that set ofmanagerial decisions and actions thatdetermines the long run performance of anorganization. It is an important task of managers and entailsall of the basic managerial functions.Why is Strategic Management Important?Stellar blue is the newest color in H.J HeinzCompanys crazy colored ketchup palette,which already includes green, pink, purple,orange, teal and of course traditional red.Heinzs Managers clearly understand theimportance of strategic management becausethey know that every time a color is introducedthe companys market share bumps up a little.Cont.. It can make a difference in how well an organization performs.The most important questions that strategy address:1. Why firm succeed or failed?2. Why, when faced with the same environmentalconditions, they have varying levels of performance. Organizational performance have positive correlation withStrategic management.Cont Another reason is that organizations of all typesand sizes face continually changing situations.These changes may be minor or significant, buttheres still change with which mangers mustcope. When managers use the strategic managementprocess, they can better cope with theuncertain environments.Cont.. It is also important because of the nature oforganizations. They are composed of diversedivisions, units, functions, and work activities-manuf

Review from student

Studypool Student
" Was sceptical because of all the poor reviews but I was desparate. Turned out pretty well, so I'm pleasantly surprised. "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1827 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors