Describe the overall strategic management process according to Ketchen and Short (2011). Why do you think strategic management can be characterized as both an art and a science?

Describe the overall strategic management process according to Ketchen and Short (2011). Why do you think strategic management can be characterized as both an art and a science?

 

Solution

Strategic management is both an art and science because:

It involves managing cross functions existing across the organization
It is about managing different kinds of employees and their behaviours
it is about predicting and having a vision of the future and working according to that