What is the question of strategic managementSolutionStrategi

What is the question of strategic management?

Solution

Strategic Management:

Strategic management can be defined as the process of continuous planning, monitoring, analysing ans assessment of activities that are crucial to meet an organization\'s goal and objectives.

The strategic management team of an organization should ask themselves the following questions, before making any short or long term decisions:

1. Where the organization is presently positioned and where it wants to go from here? If an organization is stable, they can think of launching bnew products, venturing into new markets etc and that too obviously keeping its overall mission in mind. But if it is in troubled water, they should rethink their old strategies and modify them to get into a desired position.

2. How did the organization reached the postion they are now and what are the factors and/or decision that led them to present situation? this question is basically analyzing the situation and getting to understand the present situation- be it success or failure. This analysis helps the organization to lay a road ahead for future.