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University of Phoenix
May 30, 2009
“Strategic management by definition is a set of decisions and actions that result in the formulation and implementation of plans designed in achieving goals and grand objective” (Pearce & Robinson, pg 2). In order to be successful today an entity whether for profit or nonprofit should develop a framework in accordance to the core purpose and core ideology of the entity. Keeping a clear focus on two posing questions; (1) Who are we? (2) What do we do? When answering the questions posed the first step in a long process of strategic management begins with the mission statement, vision statement, and values of the entity. Remaining true to the mission and vision statement will take vigilance, monitoring of both internal and external factors that can affect grand strategies, renewal and acceptance that events may occur which can lead to changes beyond an entities control,......
Approximate Word Count: 7693
Approximate Pages: 30 (260 words per double-spaced page)