How do I respond in 100 words to this? Strategic management is a process that is determined by the mission and goals within the organization. Strategic management for an organization consists of their internal and external environment, where strategies are implemented by leadership while analyzing the organization strengths and weaknesses within the scope of their internal and external environment to attain successful goals. As for any organization, there should be a clear understanding of what the organization has to offer and how they aim to deliver on their products and services provided. There should also be a reason behind why the organization exists. If the organization's market orientation makes a sudden change, implementing new strategies will provide a more long term basis. The downfall for many organizations is the lack of fundamental understanding to determine best practices of successful strategies to increase profitability within the organization. The vast majority of organizations from diverse origins, cultures, and approaches have different targets and means of competitiveness. Leadership within an organization adopts necessary plans and developments in order to sustain competitive advantage where the strategies for the organization are not compromised or duplicated by rivalry competitors. The strategic management process can be reassessed at any given time within realistic measures, depending on the effectiveness of the organization. Lacking knowledge and structure, the ending result of launching a new process will be unrewarding. Strategic management correlates with the Porter’s Five Forces Model because both analyze strategic ways to increase profitability and market share. However, there are restrictions in the Porter’s Five Forces Model because the Porter's model is more aligned with the industrial organization outlook on strategy rather than the resource-based viewpoint as opposed to being more performance driven. The Porter’s Five Forces Model is aligned to run analysis, and a tool formulated for analytical means within an organization. The Porter’s Five forces Model is also designed to address the behaviors within the organization and falls short on the phenomenon of partnerships and growing industries.
How do I respond in 100 words to this?
Strategic management is a process that is determined by the mission and goals within the organization. Strategic management for an organization consists of their internal and external environment, where strategies are implemented by leadership while analyzing the organization strengths and weaknesses within the scope of their internal and external environment to attain successful goals. As for any organization, there should be a clear understanding of what the organization has to offer and how they aim to deliver on their products and services provided. There should also be a reason behind why the organization exists. If the organization's market orientation makes a sudden change, implementing new strategies will provide a more long term basis.
The downfall for many organizations is the lack of fundamental understanding to determine best practices of successful strategies to increase profitability within the organization. The vast majority of organizations from diverse origins, cultures, and approaches have different targets and means of competitiveness. Leadership within an organization adopts necessary plans and developments in order to sustain competitive advantage where the strategies for the organization are not compromised or duplicated by rivalry competitors. The strategic management process can be reassessed at any given time within realistic measures, depending on the effectiveness of the organization. Lacking knowledge and structure, the ending result of launching a new process will be unrewarding.
Strategic management correlates with the Porter’s Five Forces Model because both analyze strategic ways to increase profitability and market share. However, there are restrictions in the Porter’s Five Forces Model because the Porter's model is more aligned with the industrial organization outlook on strategy rather than the resource-based viewpoint as opposed to being more performance driven. The Porter’s Five Forces Model is aligned to run analysis, and a tool formulated for analytical means within an organization. The Porter’s Five forces Model is also designed to address the behaviors within the organization and falls short on the phenomenon of
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