Answer to Question #245485 in Management for young pablo

Question

explain the strategic management process that standard bank needs to to follow to remain competitive to gain more market share

Answer 1

Goal-setting, analysis, strategy creation, strategy implementation, and strategy monitoring are the five steps of the process. To minimize any potential unfavorable financial implications, banks should have stringent management and a strong risk appetite. Proper strategic management, as well as its application and implementation, are critical in the banking industry.