1. The strategic management process is a set of strategies that are required by an organization that helps them to achieve strategic competiveness. The first step of the strategic management process is the analyzing of the external environment and international organization to determine the resources, capabilities and core competencies. Secondly, the organization then formulates the strategies which include business level strategy, corporate level strategy and international strategy. Thirdly, the organization will implement the strategy; therefore, the dynamic strategic management process must maintain an ever-changing markets and competitive structures are coordinated with a company’s continuously evolving strategic inputs. However, to manage …show more content…
The Sarbanes-Oxley Act of 2002 is a US law designed to protect investors to protect investors by improving the accuracy and reliability of corporate disclosures. Whereas, corporate governance is way corporation is governed or determination of the broad uses to which organizational resources will be deployed and the resolution of conflicts among the myriad participants in organizations. So therefore the Sarbanes-Oxley Act of 2002 instructed the SEC to consider the development of global accounting standards. For this reason, GAAP appeared to be a likely choice for becoming the global standard. In reality, several developing countries tended to utilize US. GAAP as a foundation for their county-specific standards. However, the Sarbanes-Oxley is the act which focuses to fix different auditing effects of the US organization. Although, the main focus of this act is to bring accurate but also reliable picture of companies. Additionally, the Sarbanes Oxley act of 2002, companies should incorporate corporate governance in their organizations. Even though with the assistance of corporate governance companies are required to manage the relationship among stakeholders and to determine as well as controlling the strategic guidelines and performance of the