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What Is Strategic Management?
Source: investopedia.com
Article summary:
1. Strategic management is the process of setting goals, procedures, and objectives in order to make a company or organization more competitive.
2. There are five key phases that can help businesses execute their strategies: establishing clear goals, analyzing internal and external forces, developing strategies, executing strategies, and evaluating effectiveness.
3. Strategic management is important because it allows a company to analyze areas for operational improvement and helps them find ways to be more competitive.
Article analysis:
The article provides an overview of what strategic management is and how it works in practice. It also outlines the five phases of strategic management and provides an example of how it can be applied in a real-world situation. The article is well-written and easy to understand, making it suitable for readers with varying levels of knowledge about strategic management.
However, there are some potential biases present in the article that should be noted. For example, the article does not explore any counterarguments or alternative approaches to strategic management that may exist outside of the five phases outlined in the article. Additionally, while the example provided does demonstrate how strategic management can be applied in practice, it does not provide any evidence or data to support its claims about its effectiveness or success rate.
In conclusion, while this article provides a good overview of what strategic management is and how it works in practice, readers should take into account potential biases when considering its trustworthiness and reliability.