Answer to Question #309871 in Management for Akhona Klanisi

Question

Explain the role projects play in the strategic management process and provide relevant examples

Answer 1

As part of the strategic management process, projects may focus on both the external customer environment and internal activities required to support better alignment of operations and strategic objectives. In other words, projects are the concrete actions that a business takes to execute its strategic plan. For example, during strategic planning, managers might see a certain weakness in a competitor that they might be able to exploit to gain more customers.