Strategic Decision

What is Strategic Decision? Definition, Features, and Importance

What is Strategic Decision? Strategic decision refers to the identification, evaluation, and selection of the best strategy that increases the likelihood of achieving organizational goals. Strategic decisions are directive, rare, and consequential. Decision-making is the selection of the best one out of the pool of available alternatives. And, while making a decision, a number of …

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Formality in Strategic Management

Formality in Strategic Management (Explained)

Formality in Strategic Management Formality in strategic management can be defined as the degree to which low-level employees have participated in important decision making, and have been given balanced responsibility & authority to complete duties. It is a means to make the organization formal. The more organization does such things the more the organization becomes …

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Strategic Management Process

7 Main Steps in Process of Strategic Management (Explained)

Process of Strategic Management The strategic management process refers to the development of vision and mission to strategy formulation and evaluation in order to achieve organizational goals and objectives. It helps managers to how and which strategy to choose and gives proper direction on how to best implement it. The strategic management process also called …

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Importance of Strategic Management

13 Importance and Benefits of Strategic Management (Explained)

Importance of Strategic Management Strategic management has become a crucial success factor for the organization. Composing an effective strategy and implementing it appropriately and adapting rightly to uncertainties is possible through strategic management. Setting and implementing righty the strategies – strategic management helps to act in the dynamic business environment, achieve organizational goals, get a …

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12 Characteristics/Features of Strategic Management

12 Characteristics/Features of Strategic Management

Characteristics of Strategic Management Strategic management is a set of decisions and actions used to formulate and execute strategies that will provide a superior fit between the organization and its environment and helps to achieve organizational goals. The main features or characteristics of strategic management are mentioned below: Facilitates Strategy Implementation One of the main …

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Strategic Management

Strategic Management: Definition, Features, Process, Importance, and Factors

What is Strategic Management? Strategic management is the process of the best use of organizational resources and the implementation of strategies to achieve expected goals and objectives. It is a set of commitments, actions, and decisions that gives almost positive results and sustainable competitive advantage. Strategic management is all about taking decisions and actions regarding …

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Three Levels of Strategy

Three Levels of Strategy: Corporate, Business, and Functional Level

Levels of Strategy Strategy can be defined as the effective path to achieving organizational goals and objectives in the best possible way. In organizations, there exist three levels of strategy namely corporate level, business level, and functional level. All levels of strategies have a significant role in achieving the overall targets of the organization. In …

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Strategy

What is Strategy? Definition, Characteristics, Levels, and Need

What is Strategy? Strategy is the means to achieve long-term goals and objectives that best utilize resources and aims at a sustainable competitive advantage. It is a long-term or potential action plan that includes top management decisions and a significant amount of organizational resources. A strategy gives a clear direction to the organization on how …

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Electronic Commerce Vs. Traditional Commerce

Electronic Commerce Vs. Traditional Commerce: 12 Key Differences

Electronic Commerce Vs. Traditional Commerce Electronic commerce (shortly eCommerce) means buying and selling online via the internet whereas traditional commerce means buying and selling face-to-face exchanging products for money at a physical store, offline. Electronic and traditional commerce differ in many ways, some major differences are mentioned below: Definition eCommerce is the buying and selling …

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Advantages and Disadvantages of E-Business

17 Advantages and 9 Disadvantages of E-Business

Advantages and Disadvantages of E-Business E-business being a hot business topic provides many advantages as well as disadvantages. e-business/e-commerce has completely changed the way of buying and selling at present. The advantages of e-business are equally important to the company, customers, and society. Let’s talk about how companies, customers, and society are benefited from e-business …

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