Strategic Management Model is a vital model that must be fully understood & utilized by any...

Strategic Management Model is a vital model that must be fully understood & utilized by any manager. State its importance and fully contents.

Expert Solution

Strategic Management Model is a tool used by managers to plan and implement various business strategies in the firm. It comprises of several steps which starting from defining the goal and mission, to planning and formulating strategy to achieve the goals and implementing it. Also, controlling is an important aspect in the model wherein the managers monitor the progress of the planned strategy and make changes as and when required to ensure the strategy is successful and the objectives of the business plan have been met with.

The managers must fully understand the strategic management model so as to achieve the targets as set by the management. The success of the strategy results in success of the business. If, the managers are unable to fully utilize the benefits of this model, the strategic objectives may not be achieved. Further, in certain cases, there may arise problems such as resistance from employees and their reluctance due to misunderstanding or inability to understand the matter clearly.

keosha answered 1 year ago

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