Strategic Decision Making Framework
Strategic Financial Management UNIT 1 Strategic Decision Making Framework Strategy Strategy is a course of action that specifies the monetary and physical resources required to achieve a predetermined objective, or series of objectives. Strategic Management Strategic management is the process of planning, monitoring, analysis and assessment of all necessities an organization needs, to meet its goals and objectives , to make it more competitive. Strategic management can also be defined as a bundle of decisions and acts which a manager undertakes and which decides the result of the firm’s performance. An organization is said to have competitive advantage if its profitability is higher than the average profitability for all companies in its industry. Strategic management can also be defined as a bundle of decisions and acts which a manager undertakes and which decides the result of the firm’s performance. The manager must have a thorough knowledge and analysis of th...