Stages of Strategic Management Homework Help

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Strategic management is defined as a bundle of strategies employed by the manager in order to improve firm’s performance. It can also be defined as the planning of predictable and non-predictable contingencies. Some concepts of strategic management highlighted in Stages of Strategic Management Homework Help- strategy evaluation, BCG Matrix, SWOT Analysis and many more. Stages of Strategic Management Homework Help also state the role of strategic management in an organization.
 

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Stages of Strategic Management

 

The four stages of strategic management explained in Stages of Strategic Management Homework Help are given below
 

• Identifying the objectives and goals of business- The initial stage of strategic management is to identify goals, objectives and purpose of a business. Firstly, various short term and long term objectives are set by the management. Secondly, the management takes in account various processes to accomplish those objectives. It can be studied in Stages of Strategic Management Homework Help in a detailed manner.
 

• Formulating strategies- In strategy formulation stage, SWOT analysis is used by taking in account four variables- opportunities, threats, weaknesses and strengths. Strengths and weaknesses are internal whereas opportunities and threats are external to an organization.
 

• Implementing Strategies- It is mentioned in Stages of Strategic Management Homework Help that proper implementation of strategy is the key factor to have a successful business. The three prime components of strategy implementation are- organisation implementation, resource implementation and functional policy implementation.
 

• Evaluating Strategies- The last stage of strategic management is to evaluate strategies.
 

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