Strategic management is the analyzing of factors that are associated with the external environment and those associated with the internal environment of a business or organization. The external setting of the business inculcates the customers and competitors in the market while the internal environment is the manner in which the association maintains itself.
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Management means the way of exercising control in an organization by utilizing the obtainable resources to produce goods and services. Preplanning, Monitoring strategies are required for proper running the activities of the enterprise. Resources to be managed in an association range from human resources, financial resources, natural resources and scientific resources.
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