Describe The Strategic Management Process

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Describe the strategic management process. What does it mean to manage strategically?
Answer:
Strategic management method is that the full set of commitments, decisions, and actions that are needed by the organization that helps the organization to attain strategic fight and earn above-average returns. the primary step of the strategic management method is to analyse the external setting and internal organization to work out its resources, capabilities, and core competencies—the sources of its “strategic inputs.” once the analysis of the external and internal setting, the corporate formulates the methods that embrace business level strategy, company level strategy, international strategy etc. once the formulation of the strategy, the organization implements the strategy. The dynamic strategic management method should be maintained as dynamical markets and competitive structures are coordinated with a firm’s endlessly evolving strategic inputs. To manage strategically, the organizations ought to work on methods and alter the methods consistent with the ever-changing setting.
What are the three types of organizational strategies and how are they different?
Answer:
The 3 sorts of structure methods include business level strategy, company level strategy and cooperative methods. Business level strategy is that the strategy that is adopted by the organization to own a competitive edge over its rivals. Company level strategy is that the strategy that determines the business that
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