Evaluate the role of strategic managment Free Essay, Term Paper and Book Report
It is difficult to summarise strategic management in one line, as it is based more on putting certain theories in practise in order to achieve long term goals. Strategy can be described by matching the activities and resources of an organisation to the environment in which it operates known as the search for strategic fit. For that reason, the organisation is able develop a strategy that is best fit for them by recognising certain opportunities in the business environment.
Strategic management is defined as "the long term direction of an organisation". Thompson and Strickland (1993:6) describe strategy as "the pattern of organisational moves and managerial approaches used to achieve organisational objectives and to pursue the organisation's mission"
Strategy is the direction and the scope of a company over a long period of time; as a result it achieves advantage for the organisation through its arrangement or resources within a changing environment and to full fill stakeholder's expectations . As a result it exists at a number of levels: organisational str......
Word Count: 2626
Page Count: 10.5 (250 words a page / double spaced)
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