Strategic management largely determines which organizations succeed and which ones struggle.

Question

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Strategic management is a critical process that involves setting goals, analyzing resources, and developing plans to achieve these objectives. Organizations that engage in strategic management are more likely to succeed because they have a clear understanding of their strengths, weaknesses, opportunities, and threats. By aligning organizational resources and capabilities with strategic objectives, companies can make informed decisions and stay competitive in ever-changing market conditions. In contrast, organizations that neglect strategic management are likely to struggle due to a lack of direction, poor decision-making, and inadequate resource allocation.

Strategic Management Largely Determines Which Organizations Succeed and Which Ones