Strategic Management: Approaches, Viability, Benefits, Implementation Issues and Limitations

This report discusses the three approaches to strategic management: stakeholder, dynamic capabilities, and sustainable. It covers their viability, benefits, implementation issues, and limitations. The report also provides examples of companies that have successfully implemented these approaches. The viability of stakeholder approach lies in the long term success of the firm, while dynamic capabilities approach helps firms to adjust their working capabilities as per the available resources. Sustainable approach integrates sustainability practices with strategic management of a firm. The report also highlights the suggested benefits and limitations of each approach.