| dc.description.abstract | Strategic management is defined as the set of decisions and actions that result in
formulation and implementation of plans designed to achieve a company’s objectives it
comprises several tasks. Strategic management involves the planning, directing,
organizing and controlling of company’s strategic related decisions and actions (Pearce
and Robinson, 2007)
According to (Johnson and Scholes, 2005) strategy is the direction and scope of an
organization over the long term, which achieves advantage in a changing environment
through its configuration of resources and competences with the aim of fulfilling
stakeholder expectations.
Strategic management plays a key role in facilitating the deployment of a firm’s
resources in an efficient manner to ensure long term performance of the firm in a
competitive environment. As (Bennet, 1999) noted, this makes implementation of
competitive strategies critical especially in the light of the stiff and ever increasing
competition and complexity of today’s world that can make it extremely difficult to
assess and take advantage of opportunities open to a firm. | en |
