Strategic Management Essay Example | Topics and Well Written Essays - 2500 words - 11

Strategic Management - Essay ExampleThese, on with many other factors combine to form a strategical plan for a business (Carroll 1993). This foster is usually divided into three parts namely the corporate train, the business level and the operational level dodging. Where corporate level strategy is the overall goal or plan of the organization, the business level is a little narrow and focuses on how each will compete within a particular commercialize and lastly the third one is how different units of the business will achieve the business level strategy.For example, a local caterer will have a corporate strategy which will be providing catering operate for different occasions, whereas the business level strategy will be to provide special and custom redact services to the various guests and finally for this purpose the operational level strategy will include the k instanterledge of workforce to provide high quality service and chef training to adjust food according to the cl ients individual requirements (Barry 1998).After we have understood what exactly business strategy is, we can now move on to discuss what strategic management in meticulous does. In simple words, strategic management includes the decisions and plans related to the strategies working within an organization. It is a series of steps that form a neer ending cycle. In simple words one thing follows the other and is an ongoing process. A strategy is very important because it makes sure that the organization is able to achieve its short edge and long term goals and satisfy the various stakeholders. Therefore it is of utmost importance that these strategies are planned and regulated in the beat out possible way so as to have the result up to the desired mark (Stonehouse 2004). just now before this cycle starts off it is very important that the goals of the company are clearly recognized and defined. aside from the goal there is a mission