Explain importance of strategic management, Operation Management

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In light of the various theories of Strategic Management and Competition touched on in this course (e.g., the Resource Model of the Firm, internal/external analysis, SWOT, Value Chain Analysis, Balanced Score Card, Porters Five Forces at different stages of industry development, Competitor Analysis & Inter-firm Rivalry with the notions of Market Commonality and Resource Similarity, along with the drivers of competitive behaviour, An off Matrix, Sustainable Competitive Advantage), which parts of the strategic management process do you think are most difficult, and why?

Given the importance of strategic management, why do so many strategies fail?


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