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Strategic Planning, Mission, Vision and Values

What are the major components of a strategic management process? Which of these components is the most difficult for managers to perform? Explain.

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The major components of a strategic management process are:

1. Situation analysis: Most important piece of strategic management. Observes the overall aspects of the company, including how employees interact. Interactions between customers, competitors and any other business interactions that the company might have. In this component, the manager should understand where the company is lacking and needs ...

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This solution provides an explanation of the strategic management process.