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Strategic Management is the art and science of formulating, implementing, and evaluating decisions that enable an organization to achieve its long-term goals. It involves:
Strategic management is a dynamic and continuous process that guides a company in navigating uncertainties and maintaining a competitive edge in the market.
Involves the collection and analysis of internal and external data to identify opportunities and threats.
Developing a mission, setting goals, and outlining strategies at corporate, business, and functional levels.
Allocation of resources, establishing leadership, and executing plans with measurable KPIs.
Monitoring performance, reviewing internal and external factors, and making necessary adjustments.
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Strategic management is more than just a business subject—it’s the foundation for sound decision-making, competitive analysis, and long-term organizational success. But mastering it through academic assignments can be tough. Complex models, real-world case applications, and time constraints can make even the brightest students feel overwhelmed.
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