Strategic management process explain (strategic management process) and how a corporation is likely

Jun 18th, 2015
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Strategic management process explain (strategic management process) and how a corporation is likely to use this process to achieve strategic competitiveness (to earn above - average return) hint (follow the diagram in the text mention at the outset of the course which i will send it

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ASSIGNMENTINSTRUCTORSUBMITTED BYDATEStrategic ManagementStrategic management is defined as decisions which a manager takes for the better performance of organization. They ought to perform a SWOT Analysis for the firm that is Strengths, Weaknesses, Opportunities, and Threats. Strategic management process Strategic management process comprises of four phases 1. Environmental scanningThe first stage of strategic management process is to evaluate its present position in the market. For this reason internal and external environment are scanned. External analysis includes micro and macro environment. PESTEL framework stands for Political, Economic, Socio-cultural, Technological and Legal framework are the macro environment factors which influences the business in the international environment. Micro environment affects the business in the industry. Competition is an additional unmanageable outside force which influences the corporation. Internal study comprises of the evaluation of the companys possessions, core competencies and actions. A business holds physical resources like money, land, equipment, and also intang

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