What is a Strategic Issue? How might we go about identifying a strategic issue? Consider how an organization could potentially view a strategic issue as an opportunity if addressed. Apply with an example
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- What is a strategic decision and what are its three characteristics? Define each of them.How important is it to change, and what criteria determine the changes in a strategic management plan?Discuss ,What are the pitfalls in strategic planning that management in an organization should watch out or avoid ?
- Why is strategic management important for organizations? Can an organization be successful without a strategic plan? Why or why not?What is Strategic Management in the business world? Is there a difference between Strategic Management and Strategic Planning? kindly explain siting some scholarsIf a company has $1 million to spend on a new strategy and is considering market development versus product development, what determining factors would be most important to consider? Could a firm simultaneously pursue focus, differentiation, and cost leadership?Should firms do that? Discuss
- What are the best practices for creating and implementing effective strategic plans, and how can they be aligned with organizational goals and objectives?What is the difference between strategic objectives and a strategy?What are the most important factors to consider when developing and implementing a strategic plan for an organization, and how can these factors be balanced against each other?