Asked by Lauren Morse on Sep 26, 2024
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Formulation of a grand strategy, formulation of strategic plans, implementation of strategic plans, and strategic control are the four major steps in the strategic management process.
Grand Strategy
A comprehensive, long-term plan of essential actions by which a company or government aims to achieve major objectives or overarching goals.
Strategic Management Process
A systematic approach to planning and executing the strategy of an organization, involving stages such as analysis, formulation, implementation, and evaluation of strategic goals.
Strategic Plans
Strategic plans are comprehensive, future-oriented outlines that specify an organization's vision, goals, and methods to achieve these goals, considering both internal and external environments.
- Gain insight into the process of strategic management, along with the critical role of adaptability and communication in the effective implementation of strategies.
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Learning Objectives
- Gain insight into the process of strategic management, along with the critical role of adaptability and communication in the effective implementation of strategies.
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