A241 BPMNK3023 KUMP AD STRATEGIC MANAGEMENT
Strategic management provides the basis for adapting the organization to the vagaries of an unpredictable, turbulent environment and for more effectively and efficiently achieving the firm's objectives. Strategic management is the continuous process of analysis, planning, and action to keep a firm is aligned with its external environment. It aims to capitalize on organizational strengths and environmental opportunities while minimizing or avoiding organizational weaknesses and environmental threats. Strategic management is a multidisciplinary course that integrates the knowledge learned from other courses that were concerned with a specific functional area (e.g. production, marketing, finance, accounting, human resources), and/or well-defined and specialized body of knowledge (e.g. economics, statistics, business law, information systems). In contrast, the problems and issues of strategic management cover the whole spectrum of business and management.