--%>

Define the term Strategic management

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

E

Expert

Verified

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.

   Related Questions in Managerial Accounting

  • Q : Explain Standard Costing Standard

    Standard Costing: A costing technique which joins costs to cost objects based on reasonable approximations or cost studies and by the means of budgeted rates instead of according to actual costs incurred. The predictable cost of gener

  • Q : Define Unit Cost Unit Cost : The cost

    Unit Cost: The cost of a chosen unit of a good or service. Illustrations comprise dollar cost perton, machine hour, labor hour, and department hour.

  • Q : Avoidable interest The amount of

      The amount of interest that an organization would have avoided if it had not made the expenditures for an asset. Avoidable interest is calculated when an entity is self- constructing an asset. The cost of the asset can include material, labor, and overhead plus some interest. The c

  • Q : Blackout period A defined time period

    A defined time period in accounting for stock options. In the mean while the blackout period person granted the option is not allowed to exercise it. This usually occurs after the granting of the stock options and allows the price of the stock to increase above the exercise price.  <

  • Q : Explain Process Value Analysis Process

    Process Value Analysis: Tools and methods for studying processes via customer value analysis. Its objective is to recognize opportunities for lasting enhancement in the performance of an association. It offers an in-depth review of wo

  • Q : Aging of Accounts What are Aging of

    What are Aging of Accounts? Briefly illustrate it.

  • Q : Partners-firm and firms name What do

    What do you understand by the terms partners, firm and firms name? Answer: The persons who have entered into a Partnership with each other are individually termed 'P

  • Q : Define Management Accounting Give a

    Give a brief introduction of the term ‘Management Accounting’. And also write down its objectives?

  • Q : Fixed capital of partners Explain the

    Explain the term fixed capital of partners? Answer: Partners' capital is state to be fixed if the capital of Partners remains unchanged except in the situation where

  • Q : Insurance premium in Arrears What are

    What are the Insurance premium in Arrears?