Strategic Management is a field that deals with the major intended and emergent initiatives taken by General Managers on behalf of owners, involving utilization of Resources, to enhance the performance of ﬁrms in their external environments. It entails specifying the organization's mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives and then allocating resources to implement the policies and plans, projects and programs. A balanced scorecard is often used to evaluate the overall performance of the business and its progress towards objectives. Recent studies and leading management theorists have advocated that strategy needs to start with stakeholders expectations and use a modified balanced scorecard which includes all stakeholders.
Strategy and planning management are to field of Management which is extremely important and also extensive in their nature and curriculum. Whether it is making a business pan or doing comprehensive planning or doing enterprise architecture planning one needs effective strategic planning. One needs to learn to build lesson plan and marketing plan. If event planning and production has to be undertaken and also in order to learn network resource planning strategic planning is extremely important. These are deep rooted in nature and in order to be understood completely one must have totally cleared basics. It requires clear understanding of the fundamentals so that the Student can be prepared for a god career in the field and can become good managers. And to become a good manger one totally needs to have a proper insight of the working and the functions and also proper knowledge of all what goes into making a project successful.
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