Page 5 - Introduction to strategic management
P. 5
1- Explain What is Strategic Management
The manager must have a They should conduct a SWOT
thorough knowledge and Analysis which is an analysis of
analysis of the general and the Strengths, Weaknesses,
competitive organizational Opportunities, and Threats of an
environment so as to take right organization.
decisions.
Managers should use the
results of the SWOT Analysis
to make best possible
utilization of the
organizational strengths,
minimize the organizational
Strategic management is weaknesses, make use of
nothing but planning for both arising opportunities from
predictable as well as the business environment
unfeasible contingencies. and shouldn’t ignore the
threats.
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