Interpret the Strategic Management process and assess the role of the planning cycle. Include the different aspects of the Strategic Management process and evaluate how companies achieve and maintain Sustainable Competitive Advantage (SCA). Include examples from a specific organization in a chosen industry or sector. Analyze the role of microeconomics in creating a sustainable competitive advantage.
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Strategic Management Process and Role of Planning Cycle
Strategic framework of an organization distinguishes it from the other organizations present in the competitive market place. Strategic management process can be defined as the process, which enables the firms to control the environment of the industry as well as organization, identify the competitors and establishes mission, goals and strategies, to meet the requirements of target customers and survive in the highly competitive environment (Grant, 2009). Strategic management process is basic activity of the firm, which is done by the top management to manage high performance of the firm with its competitors.
In strategic management process, planning cycle is ...
The expert examines strategy planning development and strategic positioning.