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man paper oct 19 - Brittney Acevedo Professor Jalajas...

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Brittney Acevedo Professor Jalajas Strategic management is a very important part of what managers do. Strategic management is what managers do to develop an organization’s strategies. Strategic management involves planning, organizing, leading, and controlling. The business model is how a company is going to make money. There are three reasons why strategic management is so important. The main reason is that it can make a difference in how well an organization performs. The next reason it’s important has to do with the fact that managers in organizations of all types and sizes face continually changing situations. Finally, strategic management is important because organizations are complex and diverse. The strategic management process is a six step process that encompasses strategy planning, implementation, and evaluation. Step one is to identify the organizations current mission, goals, and strategies. Every organization needs a mission which is a statement of its purpose. Step two is to do an external analysis. Step three is to do an internal analysis. An internal analysis provides important information about an organization’s specific resources and capabilities. Resources are an organization’s assets that are used to develop,
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