Strategic Management

Question 1

What is St.Mgment?

Answer 1

What managers do to develop the organizational strategies

Question 2

What are strategies?

Answer 2

Decisions and actions that determine the long run performance of of the organization in order to achieve its goals

Question 3

Business Model

Answer 3

Strategic design for how a company/organization intents to profit/to achieve its goals through its strategies, processes and activities. It focuses on:

• Whether customer/stakeholders will value what the company/organization is providing.
• Whether the company/organization can make money/achieve its goals doing that.

Question 4

St management is important because:

Answer 4

• It can make a difference in how well an organization perform.
• Organizations face continually changing situations
• They are complex and diverse