Explain about common strategy implementations problems
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Explain about common strategy implementations problems
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Introduction
Organizations need to understand the concept of strategic management and apply the same in their business. Businesses cannot function without strategic management. Strategic management is the systematic process of setting strategies for the organization and serves as a guiding tool on how to stay ahead of rival firms. It helps in coordinating business activities and operations.
Objectives of strategic management:
- To achieve organizational goals
- To gain a competitive advantage
- Help the organization to achieve sustainable growth
- To guide the organization in surviving changes
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