Reference no: EM132712666
Strategic Management and Business Policy: Globalization, Innovation, and Sustainability our authors Hunger, Wheelen, Hoffman, Bamford (2015) point out, "that strategic management is a set of decisions and actions that help determine the long-term performance of an organization." (pg. 4)
There are 4 phases of strategic management that a firm evolves through, they are:
Phase 1 - Basic Financial Planning
Phase 2 - Forecast-based Planning
Phase 3 - Externally oriented (strategic planning)
Phase 4 - Strategic Management
After reviewing these phases in our text - select one and describe the concepts of this phase. What are the organizational characteristics of this phase?
Hunger, J. D., &Wheelen, T. L., Hoffman, A. N., Bamford, C. E. (2015). Strategic Management and Business Policy (14th ed.). Upper Saddle River, NJ: Pearson Education.
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