Everything you need to know about strategic management process. Strategic management is all about identification and description of the strategies that managers can carry so as to achieve better performance and a competitive advantage for their organisation. An organisation is said to have competitive advantage if its profitability is higher than the average profitability for all companies in its industry. [...]
Everything you need to know about strategy formulation. Strategy formulation is the process of offering proper direction to a firm. Strategy Formulation seeks to set the long-term goals that help a firm exploit its strengths fully and encash the opportunities that are present in the environment. There is a conscious and deliberate attempt to focus attention on what the firm [...]
Everything you need to know about the types of business level strategies. A strategy is a pattern or a plan which integrates an organisation's major policies, goals and actions, sequences in a coherent linear of decision. It is not a simple one, strategy have a number of implications. It can be described as - i. A plan, or a similar [...]