Strategic management is a popular method for running businesses which involves an analytical approach to setting goals and managing resources. Like strategic planning, strategic management often involves a good dose of business analysis. Broadly speaking, this business analysis can be categorised as either internal or external. What is it? Why is it important in today business? Explain by giving examples.

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Internal and external business analysis are crucial components of strategic management providing insights into both the organizations internal capabilities and the external factors influencing its ope... View the full answer