Briefly discuss the three key activities in strategic management

  1. Briefly discuss the three key activities in strategic management. Why is it important for managers to recognize the interdependent nature of these activities?
  2. Explain the concept of “stakeholder management”. Why shouldn’t managers be solely interested in stockholder management, that is, maximizing the returns for owners of the firm”, its shareholders?
  3.  Explain how the general (external) environment and the industry (external) environment are distinct, but highly related. How can these two types of external environment influence the profitability of the firm?

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