1. A. The term strategic management can be defined as the overall strategy of the organization. Analysis, decision and action are the three basic processes of strategic management. In analysis, strategic goals are analyzed along with the analysis of external and internal environment effecting the organization. After the analysis the management must make strategic decisions. At the last stage there are the actions that need to be taken to implement the analyzed and decided strategies.
1. B. Strategic management involves focusing the best way to respond to the circumstances of the organization’s environment. As the strategic management