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Advertising Graduate Student Handbook 20172018The Charles H. Bandage Department of Advertising 810 S. Wright St., Room 119 Gregory Hall Urbana, IL 61801 2173331602Table of Contents Welcome from Dr.
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Strategic management is the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes. Business encompasses all activities involved in the provision of goods and services.
Any organization or company that wants to set clear goals and objectives, determine actions to achieve those goals, allocate resources, and implement strategies to achieve success.
Strategic management involves conducting a SWOT analysis, setting objectives, formulating strategies, implementing strategies, and monitoring progress.
The purpose of strategic management is to enable an organization to achieve its goals and objectives, adapt to changing market conditions, and maintain a competitive advantage.
Information such as company goals, objectives, strategies, resources, external environment analysis, and progress monitoring must be reported in strategic management.
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