HRM 3430 Chapter Notes - Chapter 1: Strategic Management, Redone

• School: York University
• Department: Human Resources Management
• Course: HRM 3430
• Professor: Althea Gordon

Document Summary

Strategic management encompasses all of the things that the organization is planning on to attain and achieve and determine a clear path and straightforward direction in which they would like to go in. It is crucial and vital to be able to comprehend and know the language/terms. As a strategic management plan cannot be properly, accurately and correctly conducted unless and until those who are working on it are able to comprehend/understand and be fully aware of the terminology and language. A strategy could be formulated on purpose with an intent that happens at the very beginning of the process as well as it could"ve been realized (occurred later on). The strategy is impacted/affected by environmental changes that happen. As a result, the strategic management plan could end up being changed, altered, shifted updated, rebuild or redone, in order to deal with any alterations. Company strategies deal with long-term perspective of the company.