Author(s): Alexander Williams
In today's dynamic and highly competitive business landscape, organizations must make informed decisions to gain a sustainable competitive advantage. Strategic management, a crucial discipline in business, focuses on the long-term planning, execution, and evaluation of decisions that shape an organization's direction and performance. Effective decisionmaking lies at the heart of strategic management, as it determines the allocation of resources, the pursuit of opportunities, and the mitigation of risks. This process involves analyzing the internal and external environments, identifying strategic goals, formulating strategies, and implementing them with precision and agility.