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This assignment will depict the general objectives of strategic management and shall
comment on critical stages of analysis, choice and implementation. It will illustrate the
significance of each phase with factual examples from the media as well as its reliance on
each. It will highlight the implementation process in particular and will show its
substantial importance when compared to analyses and choices. The overall aim of this
essay is to give a broad spectrum along with common understanding of an ongoing process
of strategic management together with methods of strategic planning, as well as its
benefits, disadvantages and consequences when performed poorly.
One of many definitions of strategic management could suggest that it is a set of ideas and
plans made by chief executives trying to achieve certain long-term advantages for an
organisation. This would be true in very generic terms but strategic management outlines
much more. It is important to understand the necessity for strategy in business as well as
the broad external environment in which corporations operate, and which can and will
influence such organisations. In order to survive in today complex and contested business
environment, enterprises need to respond well to these influences; sometimes they can
have positive shape and therefore bring new opportunities and success for the company but
other times the influences can be negative *ƒ²*ƒ"€š threats. Every organization needs to be
aware of these influences, identify them and adapt accordingly.
However, strategic management should not be mistaken for a general management.
Management in general is concerned with improving the overall efficiency of an
organization on a day-to-day basis; solving problems, planning, and by step-by-step
process ensuring the smooth operation of an organisation in short or medium-terms,
whereas the scope of strategic management goes...
