Strategic Management: Prescriptive and Emergent Approaches, Core Competence, Innovation, and Benefits

Strategic Management

Introduction
 Strategic management is the process of deciding goals, procedures, and attaining goals
for the purpose of attaining competitive advantages. This is important for each
organization to for understand goals of organization and allocate the work between
group of people who get ready to work continuously. Strategic management is the
regular procedure of understanding goals and managing work between team members
which helps to develop business productivity.

Strategy is the comprehensive action plan that identifies the long-term direction
 Strategy is the act of planning, and directing formulated by an individual to achieve
organizational goals and maintaining higher performance. The aim of each business
industry is to increase its sales and profitability so that formulation of strategy is
important that used by business concern for the purpose of managing activities.