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Define the term Strategic management

Briefly define the term Strategic management and also state the reason why it is designed?

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The Strategic management is mainly designed to give a business with an apparent sense of reason and to make sure that suitable action is taken to accomplish that aim. The action taken must link the internal resources of the business to the exterior atmosphere of competitors, suppliers, customers and so forth. This must be completed in such a way that any business strengths, like having an expert workforce, are exploited and any weaknesses, like being short of investment finance are not exposed.

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