Assignment:
What is Strategic Management?
Strategic management is a process that helps to evaluate and control the business and industries, set goals and strategies to compete with competitors and satisfying the needs of customers (Thompson and Martin, 2005). Along with this, strategic management is a proactive process for achieving long term compatibility in hospitality industry. Strategic management is a profitable way for implementing the strategies to achieve desired goals in tourism industry. In this essay, opportunity driven and resource based view of strategies will be discussed. Along with this, these views will be differentiated and importance of both views in organizations will be identified.