Introduction to Strategic Management

The nature and value of strategic management is to achieve the desired results and outcome due to careful research (environmental scanning), planning and development of a company's strategy as well as the implementation and maintenance of it (Pearce & Robinson, 2013, p. 3).

For this Assignment, you will complete a short answer on the following question:

? Why is strategy important to business?

? You will want to address the main components of the (three-tier process) of the strategic management process while discussing the importance of strategy for business.

Be sure to use your reading this week as a resource. You are encouraged also to use the Library databases and the Internet as additional resources.

Reference:

Pearce, J. A., & Robinson, R. B. (2013). Strategic management: Planning for domestic & global competition. (13th ed.).