► Strategic management is the continuous planning, monitoring, analysis and assessment of all that is necessary for an organization to meet its goals and objectives.
► The strategic management process involves analyzing cross-functional business decisions prior to implementing them. Strategic management typically involves:
➻ Analyzing internal and external strengths and weaknesses. ➻ Formulating action plans. ➻ Executing action plans. ➻ Evaluating to what degree action plans have been successful and making changes when desired results are not being produced.
► Strategic management necessitates a commitment to strategic planning, which represents an organization's ability to set goals to determine the decisions and actions that need to be taken to produce those results.
【Topics Covered in This App are Listed Below】
⇢ What is 'Strategic Management? ⇢ Strategy - Definition and Features ⇢ Components of a Strategy Statement ⇢ Keeping an Eye on Expenses and Goals ⇢ Common Approaches to Strategy ⇢ Strategic Management - Types ⇢ Strategic Management - Process ⇢ Organization Specifics ⇢ Strategic Management - Performance Issue ⇢ Strategic Management - Top Leadership ⇢ Entrepreneurial Orientation ⇢ Insights on Effectiveness of EO ⇢ Organization & Environment ⇢ Analyzing the External Environment ⇢ Strategic Management - Judging Industry ⇢ Mapping Strategic Groups ⇢ The Resource Based Theory ⇢ Strategic Management - Intellectual Property ⇢ Strategic Management - Value Chain ⇢ Other Performance Measures ⇢ Key Performance Indicators (KPIs) ⇢ Key Result Indicators (KRIs) ⇢ Performance Indicators and Result Indicators ⇢ Company Assets SWOT Analysis ⇢ SWOT Analysis Breakdown ⇢ Strategic Management - Different Types ⇢ Strategic Management - Cost Leadership ⇢ Strategic Management - Niche Differentiation ⇢ Strategic Management - Focus Strategies ⇢ Best-Cost Strategy ⇢ Strategic Management - Competitive Moves ⇢ Strategic Management - Competitor’s Moves ⇢ Strategic Management - Cooperative Moves ⇢ Strategic Management - Pros & Cons ⇢ Drivers of Success & Failure ⇢ International Strategies - Types ⇢ International Markets - Competition ⇢ Concentration Strategies ⇢ Vertical Integration Strategies ⇢ Types of Vertical Integration ⇢ Strategic Management - Diversification ⇢ Strategic Management - Downsizing ⇢ Strategic Management - Portfolio Planning ⇢ The Boston Consulting Group (BCG) Matrix ⇢ Limitations of Portfolio Planning ⇢ Organizational Structure ⇢ Creating an Organizational Structure ⇢ Organizational Control Systems ⇢ Legal Forms of Business ⇢ Growth & Nature ⇢ Organizational & HRM Strategy ⇢ Impact of HRM on Performance ⇢ Strategic Management to the Millennial Generation ⇢ Strategizing for the Future ⇢ Ansoff Matrix ⇢ Routes to Strategic Growth: Organic or Inorganic Growth ⇢ Role of Planning, Plans and Planners in Mintzberg’s Five ConfigurationsEnvironmental ⇢ Scanning - Internal & External Analysis of Environment ⇢ Steps in Strategy Formulation Process ⇢ Strategy Implementation - Meaning and Steps in Implementing a Strategy ⇢ Strategy Evaluation Process and its Significance ⇢ Strategic Decisions - Definition and Characteristics ⇢ Benefits of Strategic Management ⇢ Business Policy - Definition and Features ⇢ BCG Matrix ⇢ SWOT Analysis - Definition, Advantages and Limitations ⇢ Competitor Analysis - Meaning, Objectives and Significance ⇢ What is Competitive Advantage in the Field of Strategic Management? ⇢ Porters Five Forces Model of Competition ⇢ Some Pitfalls to be Avoided in Strategic Management ⇢ Corporate Governance - Definition, Scope and Benefits ⇢ Business Ethics - A Successful way of conducting business ⇢ Social Responsibilities of Managers ⇢ Ansoff Matrix ⇢ PESTLE Analysis ⇢ SWOT Analysis of Unilever ⇢ Business Strategies to Beat the Downturn ⇢ Analysis of Amazons Corporate Strategy ⇢ Cutting Costs Strategically