Strategic management is the ongoing planning, monitoring, analysis and assessment of all necessities an organization needs to meet its goals and objectives. Successful strategic management plays an important role in the success of the business. How will you implement the components of strategic management in your own organization? Elaborate.

Explain the concept of a "strategic plan." What are the key components of a strategic plan, and how does it align with the organization's mission and vision?

Considering the purpose of a strategic plan and why it is important for businesses to engage in the process, regardless of their size.  Which stakeholders should be included in the strategic-planning process? And Why is it important to include the stakeholders you identified in the process?

What are the strategic planning time frames? How do they work together? Why are good goals important to the planning process? What managerial skills and actions are included in the planning process? What actions can help a firm grow? Give an example of why a firm would pursue each of the three grand strategies. Describe the three levels of strategy and what a manager developing strategy at each level is concerned with.