Transcription of Unit-1 Strategic Management: An Overview
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Unit-1 Strategic Management: An Overview
Unit-1 . Strategic Management: An Overview Learning Objectives Strategic After completion of the unit, you should be able to: Management: An Overview Explain the concept and definition of strategy & Strategic management. Know the features/characteristics of Strategic management. Understand the importance of Strategic management. Explain the different levels of strategy . Describe the benefits of Strategic management Structure Introduction Concept and Definition of strategy Features/Characteristics Need and Importance of Strategic Management Approaches to strategy Levels of strategy Benefits and Limitations of Strategic Management Let s Sum-up Key Terms Self-Assessment Questions Further Readings Model Questions Introduction Strategic Management is a relatively new discipline focused in the field of management, and provides overall direction to an organization for attaining its objectives and achieving success.
d. Strategy is a blend of internal and external factors of the organization i.e. (SWOT) analysis of the organization. e. Strategy provides overall framework for guiding organizational thinking and action. 1.4 Need and Importance of Strategy Planning or designing a strategy involves a great deal of risk and resource
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