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Strategic Management: Megrey'

Strategic management involves formulating strategies to take advantage of opportunities and address threats in the external environment. It is a top-down, resource-intensive process that affects the long-term prosperity of the firm. Strategic management requires foresight and allows firms to make non-routine decisions, facilitate risk management, and provide a framework for decision-making from an organizational perspective. However, strategic management can be an expensive process and the future may not unfold as anticipated.

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SHARMAINE CORPUZ MIRANDA
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56 views7 pages

Strategic Management: Megrey'

Strategic management involves formulating strategies to take advantage of opportunities and address threats in the external environment. It is a top-down, resource-intensive process that affects the long-term prosperity of the firm. Strategic management requires foresight and allows firms to make non-routine decisions, facilitate risk management, and provide a framework for decision-making from an organizational perspective. However, strategic management can be an expensive process and the future may not unfold as anticipated.

Uploaded by

SHARMAINE CORPUZ MIRANDA
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Megrey’strategic management

MODULE 1
The
... Nature of Strategic Management
Nature of strategic management

 strategic management is that firms need to


formulate strategies to take advantage of
external opportunities and to avoid or reduce the
impact of external threats. For this reason,
identifying, monitoring, and evaluating external
opportunities and threats are essential for
success.
• The Characteristics of Strategic
Management

• 1.Top management involvement.


2.Requirement of large amounts of resources.
3.Affect the firms long-term prosperity.
4.Future-oriented.
5.Multi-functional or multi-business 6.consequences.
7.Non-self-generative decisions.
Features of Strategic Management

• Conscious Process. Strategies is a product of the developed conscience and


intellect that we humans proudly possess and employ
• Requires Foresight
• Dependent on Personal Qualities
• Goal Oriented Process
• Facilitates decision making
• Primary Process
• Pervasive Process
• Allows for Risk Management
Key Characteristics of an Effective Business Strategy

• They are Not Tactical. People often get a strategy mixed up with
a tactic
• They are Actionable. Strategic goals are achievable through
tactics
• They are Clear. Employees should understand exactly what their
organization's strategy is to achieve it successfully
• They Include a Business Plan
• They Don't Change Much
The Advantages of Strategic Management

• Discharges Board Responsibility


• Forces An Objective Assessment
• Provides a Framework For Decision-Making
• Supports Understanding & Buy-In
• Enables Measurement of Progress
• Provides an Organizational Perspective
• The Future Doesn't Unfold As Anticipated
• It Can Be Expensive
resources

• slideshare.net › earlstevens58 › 27-nature-of-strat..


www.geektonight.com › what-is-strategic-management-
•  www.managementstudyhq.com › what-strategic-manage
• ugn.com › key-characteristics-of-an-effective-business-str..

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