strategic management theories

Strategic management theories focus on how organizations set goals and decide on actions to achieve them. They examine factors like market competition, organizational resources, and external environments. Key theories include SWOT analysis, which evaluates strengths, weaknesses, opportunities, and threats; Porter's Five Forces, which looks at industry competitiveness; and the Resource-Based View, emphasizing internal resources as a source of advantage. These frameworks help businesses make informed decisions, adapt to changes, and sustain long-term success by aligning their strategies with both internal capabilities and external market conditions.