The challenge of the future

This chapter aims to show that strategic management is about coming to terms with a changing world. Strategic management is about both adapting to external changes and sometimes to cause the external environment to change. The chapter will provide a way of thinking about issues from the external environment and an understanding that there are interconnections between them.

One of the justifications given for subjecting a business to a process of strategic management is that it is the only satisfactory way of coming to terms with a changing world. Events in the environment in which the company operates have a direct effect on the success or failure of that company. Strategic management seeks, as one of its ...

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