Strategic Management Is One Type of Planning, and It Largely

question 39

Essay

Strategic management is one type of planning, and it largely determines which organizations thrive and which ones struggle. It is the decisions and actions used to formulate and execute strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals. Choose some type of business or specific, real-world organization, and start to develop a strategy for its long-term growth. Write a short essay that summarizes the components of strategic management that the organization needs to use, and provide examples of strategic plans and/or goals at the three organizational levels that would allow the organization to reach its objectives.

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Definitions:

Intelligence

Intelligence refers to the cognitive ability to learn from experience, solve problems, and use knowledge to adapt to new situations.

Gregariousness

The quality or state of being sociable, seeking and enjoying the company of others.

Unique Traits

Characteristics or qualities that distinguish an individual from others, contributing to their individuality and identity.

Factor Analysis

A statistical method used to describe variability among observed, correlated variables in terms of a potentially lower number of unobserved, independent variables.