Nature of strategic management

Nature of strategic management can be described in following points:

  • strategic management is based on quantitative and qualitative data
  • uncertainty about the future and quality of data acquires is relatively high
  • selecting management strategy is based on various methods, processes, rules and theories
  • there is not one best way to develop a strategy
  • management strategy should take into account deductive or empirical methods and techniques
  • resources of organization is one of most important strategic issues
  • people and knowledge is key success factor of business


References


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