Understanding Management Strategy According to The Experts
In management science, there are some experts who defined the strategic management, which can include different. A. According Ketchen Ketchen defines management, he found as a strategic management is the Management of the analysis, decisions, and actions in various companies to create and maintain competitive advantage. This definition is divided into two main elements of strategic management. Strategic management in a company associated with running processes (ongoing processes): analysis, decision and action. Strategic management with regard to how management analyzes strategic objectives (vision and mission) as well as internal and external conditions facing the company. Furthermore, companies must create strategic decisions. This decision must be able to answer two main questions: (1) what industry they work at the company and (2) how companies have to compete in the industry. Lastly, what action will be taken to execute the decision. This action needs to b...