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Strategic management is discipline which deals with the initiatives taken by the general managers on the behalf of the owners of the industries to make new deals and to signup new projects. These steps are taken to improve the performance of the specifies the mission, objectives and vision of the firm. Then accordingly the strategies are adopted to enhance the performance and to achieve the goals of the firm. At the end a balance sheet is created which shows the performance of the firm and also shows how much the firm is now near to its objectives.

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