To deal effectively with the wide array of factors affecting the ability of a business to grow and prosper, managers need advanced processes they feel will facilitate the optimal positioning of the business in its competitive environment. Such positioning is possible with strategic management because this process improves preparedness for unexpected internal or competitive demands.

Therefore, strategic management is an all-encompassing approach for formulating, implementing and evaluating managerial decisions in a way that permits the business to reach its objectives.

For a strategic management plan to be successful, however, every manager should:

• Be firmly committed to the idea of changing the business planning process

• Assure that the strategic management process has credibility with everyone involved

• Make sure that final plans are realistic and reflect actual resources and capabilities

• Train all participants in the procedures essential to the......

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Title: Strategic Management
Approximate Word Count: 463
Approximate Pages: 2 (250 words per double-spaced page)

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