Something about Strategic Management that one needs to know in this era of dimension is that it centers on the belief that a firm's mission can best be achieved through a systematic and comprehensive assessment of both its internal capabilities and its external environment. Subsequent evaluation of the firm's opportunities leads, in turn, to the choice of long-term objectives and grand strategies and, ultimately, to annual objectives and operating strategies, which must be implemented, monitored and controlled.
Besides, the manager must have a thorough knowledge and analysis of the general and competitive organizational environment so as to take right decisions. They should conduct a SWOT Analysis (Strengths, Weaknesses, Opportunities, and Threats).
| Strategic management is basically nothing but planning for both predictable as well as unfeasible | |||||||||
| contingencies. This subject will definitely be an interest to learner's who wish to venture into the world of entrepreneurship as well as engaging various projects locally and globally. | |||||||||
