UNIT – IV STRATEGIC MANAGEMENT
UNIT – IV STRATEGIC MANAGEMENT Introduction: Strategic management provides better guide lines to entire organization on the crucial point of “what is it we are trying to do and to achieve”? Strategic management is what managers do to develop the organization’s strategies. Strategic management involves all four of the basic, management functions – planning, organizing, leading, and controlling. Strategic management is important for organizations as it has a significant impact on how well an organization performs. Strategic management is an ongoing process that evaluates and controls the business and the industries in which the company is involved assesses its competitors and sets goals and strategies to meet all its existing potential competitors. Strategy: The strategy is the central to understanding the strategic management. The word strategy is originated from the Greek word , “strategic ” which means to lead; “generalship ” and which described the role of genera...