Understanding the Strategic Management Process in Business Strategy
Introduction
In the ever-evolving business landscape, having a well-defined strategic management process is crucial for organizations to navigate uncertainties, achieve their goals, and stay ahead of the competition. Strategic management involves the formulation, implementation, and evaluation of strategies to align an organization’s resources and capabilities with its long-term objectives. In this article, we will delve into the strategic management process, its key components, and how it contributes to the success of businesses.
The Strategic Management Process
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