Month: June 2022

TOPIC SEVEN STRATEGY EVALUATION AND CONTROL Strategy Evaluation and control Strategy Evaluation and control is a process of determining the effectiveness of a given strategy in achieving the organization objectives and taking corrective action whenever required Strategy evaluation is that Read More …

TOPIC SIX STRATEGY IMPLEMENTATION Meaning of strategy implementation Strategy implementation is the process that turns strategies and plans into actions to achieve both a vision of the future and associated financial and nonfinancial goals (like customer satisfaction). Implementation of strategy Read More …

TOPIC FIVE STRATEGY FORMULATION Meaning of strategy formulation Strategy formulation refers to the process of choosing the most appropriate course of action for the realization of organizational goals and objectives and thereby achieving the organizational vision. Importance of strategy formulation Read More …

TOPIC FOUR FORECASTING STRATEGIC MANAGEMENT Meaning of forecasting Forecasting is the process of projecting past sales demand into the future. Implementing a forecasting system enables you to assess current market trends and sales quickly so that you can make informed Read More …

TOPIC THREE COMPETITIVE ADVANTAGE Meaning of Competition Competition is a commitment within an organization to make a very large change in competitive relationships Competitive advantage The term can be defined to mean ―anything that a firm does especially well when Read More …

TOPIC TWO STRATEGIC MANAGEMENT OF ENVIRONMENT Environment in strategic Management Environment is defined as something external to an individual or organization. Business environment consists of all the factors that affect a company’s operations, actions and outcomes. These are: 1. Micro Read More …