BUS402 W2D1.docx - Discuss the elements of strategic management and explain why it is crucial to an organization’s survival Excluding the examples

BUS402 W2D1.docx - Discuss the elements of strategic...

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Discuss the elements of strategic management and explain why it is crucial to an organization’s survival. Excluding the examples from the textbook, give an example of a company that failed as a result of poor strategic management. Explain the difference between a strategy and a business model . The elements of strategic management are planning and being strategic to make a company successful over a long term and can be looked at as to “Think – Plan – Act.” Abraham (2012) states that strategic management of an organization “involves what direction to go, what to produce, what industry, its competition and how to beat the competition” (Ch. 1.1, para. 1). The organization need to make goals and meet objectives as well as study their competition and perform a SWOT analysis to see where strengths and weakness lie and make a plan of action to achieve objectives. Making a strategic plan is crucial to any organization’s survival if they want to still be
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  • Fall '19
  • Holly Mudlin

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