Strategic Management

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.