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STRATEGIC MANAGEMENT
Strategic management is a field that deals with the major intended and emergent initiatives taken by general managers on behalf of owners, involving utilization of resources, to enhance the performance of rm in their external environments. It entails specifying the organization's mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources.
FACTORS
Globalization
and Business competition Emergence of regional organizations Allocation of limited resources Information technology Changing societal concerns, attitudes, and lifestyles Regulatory influences and govt. policies
IMPLICATION OF CHANGES
Opportunities
Entry in business has become easier Process of business restructuring has become easier Acquiring business overseas has been easy Raising of funds has become easy
IMPLICATION OF CHANGES
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