Final answer:
Strategic management involves six key processes that include setting goals, scanning the environment, formulating strategy, implementing plans, evaluating progress, and fostering continuous improvement.
Explanation:
Six Strategic Management Processes:
- Identifying the organization's purpose and goals.
- Environmental scanning to assess internal and external factors.
- Strategy formulation to develop plans for achieving goals.
- Strategy implementation by putting plans into action.
- Strategy evaluation to monitor progress and make adjustments.
- Ensuring continuous improvement and adaptation.
These processes are crucial for effectively managing organizations and achieving success.
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