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What is Strategic Management?

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1. Define strategic management in your own words for a general audience. Imagine you were trying to explain what strategic management is to one of your family members who is a junior in high school.

2. Does the competition between various companies affect your daily life in any way? Give an example that might apply. For example, consider how you recently chose between two products or services offered by different companies. What factors made you choose one over the other? How do the companies compete?

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1. Define strategic management in your own words for a general audience. Imagine you were trying to explain what strategic management is to one of your family members who is a junior in high school.

Strategic Management (SM) is the process of determining how an organization should proceed within the marketplace. Every organization must have a strategy in position if they desire to maintain a competitive advantage in the corporate infrastructure. SM is a formulation of process development techniques that provide a basis for conscious strategic thinking and effective decision making practices. SM integrates the initial framework of an organizations vision, mission, values, goals, objectives, roles and responsibilities.

2. Does the competition between various companies affect your daily life in any way? Give an example that might apply. For example, consider how you recently ...

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2. What are the key objectives of Human Resource Planning?

3. Describe the two major models of strategy for strategic management discussed in the text. Compare and contrast the models

4. Describe how human resource planning (HRP) is integrated with strategic planning.

5. How does strategic HR differ from traditional HR?

6. What implications do the anticipated changes in age of the workforce have for the management of human resources?

7. What are the barriers to strategic HRM?

8. What is the Balanced Scorecard?

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