Strategic Management

The process of strategic management involves the establishment of an organization's strategy, the determination of objectives, and the allocation of resources to effectively pursue the strategy. It entails the formulation and execution of the organization's primary objectives and initiatives on behalf of the proprietors, with a focus on the internal and external environments in which the organization operates, as well as the consideration of resources. Strategic management aims to offer the organization direction and guidance, thereby enabling it to achieve long-term success and a sustainable competitive advantage. A profound comprehension of the organization's internal capabilities, market trends, and the industry is necessary.

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