FAQs
Q: What are the elements of strategic management?
A: The strategic management process is made up of four elements: situation analysis, strategy formulation, strategy implementation, and strategy evaluation. These elements are steps that are performed, in order, when developing a new strategic management plan.
Q: What are the types of strategies in strategic management?
A: There can be four types of strategies a corporate management pay pursue: Growth, Stability, Retrenchment, and Combination.