Audio available in app
Strategic management involves longterm planning and goal setting from "summary" of Fundamentals of Management (For B.Com, BBA, BBM and BMS) by J.P. Pathak
Strategic management is a crucial aspect of organizational success. It involves looking ahead and planning for the future. This is not just about short-term goals, but rather about setting long-term objectives that will guide the organization in the years to come. Long-term planning is essential because it allows the organization to anticipate changes in the external environment and adapt accordingly. By setting clear goals for the future, the organization can align its resources and efforts towards achieving those goals. Goal setting is a fundamental part of strategic management. It involves defining specific objectives that the organization aims to achieve. These goals should be realistic and achievable, yet amb...
Similar Posts
Be willing to experiment and take risks
To be an Agile Leader means being open to trying new things and stepping out of your comfort zone. It involves being willing to...
Network with other business professionals
To succeed in the business world, it is essential to build relationships with other professionals in your industry. Networking ...
Quality management is important for ensuring customer satisfaction
Quality management plays a crucial role in ensuring customer satisfaction. By focusing on quality control, a company can meet o...
Develop a strong brand identity and reputation
Developing a strong brand identity and reputation is crucial for any business looking to stand out in the market. Your brand is...
Invest in strengthening those core strengths
To win in the game of business, it is crucial to focus on strengthening your core strengths. This means identifying what your b...
They set clear boundaries for their thoughts
Successful people have a deep understanding of the power of their thoughts. They recognize that their thoughts shape their real...
Industry structure determines company profitability
The structure of an industry is a powerful driver of a company's profitability. Different industries offer different levels of ...
Resilience allows leaders to bounce back from setbacks and failures
Resilience is a critical trait that separates successful leaders from those who crumble under pressure. When faced with setback...
Implement a systematic approach to decisionmaking
Implementing a systematic approach to decision-making is crucial for any organization looking to achieve success. This approach...
Strategic agility allows organizations to respond quickly to changes
Strategic agility is a critical capability for organizations in today's fast-paced and dynamic business environment. It enables...