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What is Strategic Management Process? PDF | Download eBooks

Learn Strategic Management Process definition with explanation to study “What is Strategic Management Process”. Study strategic management process explanation with strategic management terms to review strategic management course for online MBA programs.

Strategic Management Process Definitions

  1. Strategic management process is the full set of commitments, decisions, and actions required for a firm to achieve strategic competitiveness and earn above-average returns.

    Strategic Management by Michael A. Hitt, R. Duane Ireland, et al.

  2. A six-step process that encompasses strategic planning, implementation, and evaluation.

    Management by Stephen P. Robbins, Mary A. Coulter

Strategic Management Process Explanation

Strategic administration is the way toward overseeing, arranging, and breaking down so as to arrive at all hierarchical objectives. Vital administration enables an association to see where it as of now stands, where it will be later on remaining on the present course, and where it might want to be later on. Vital administration exploits authoritative assets to make a procedure that draws nearer to or arrive at their objectives. The procedure of vital administration incorporates objective setting, examination, system arrangement, technique usage, and methodology checking. The initial segment of key administration is to plan and define your objectives. Set the short-and long haul objectives of the association and ensure that these are imparted to all individuals from the association.

Strategic Management Process Explanation

The key administration procedure means characterizing the association's system. It is likewise characterized as the procedure by which chiefs settle on a decision of a lot of techniques for the association that will empower it to accomplish better execution. Key administration is a persistent procedure that evaluates the business and enterprises where the association is included; assesses it's rivals; and fixes objectives to meet all the present and future contender's and after that reassesses every technique. Key administration is a progressing procedure. In this way, it must be understood that every segment associates with different segments and that this connection frequently occurs in theme.

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