What is strategic management?
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Title: What is strategic management?

Essay Details:

Subject: Business
Author: Marsha W
Date: April 20, 2015
Level: University
Grade: A
Length: 24 / 7028

Essay text:

By drawing from each of the definitions, one could say that strategy and by extension, strategic management, is constituted of short-term strategies involving managing and planning for the present and long-term decisions and actions, made, taken and implemented by managers to achieve superior competitive advantage, compared to their competitors. This coursework will highlight the key elements of organisational strategy by means of the POSIES model. The elements relevant for this analysis are POSI (purpose – objectives – strategy - implementation). Parthasarthy (2006) integrates another element into what he calls the strategic management process, namely, the situational analysis, wherein the external and the internal environment are taken into consideration...

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