Complete the following for a total of no less than 700 words: In 300 words, discuss why an understa ...

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Complete the following for a total of no less than 700 words: In 300 words, discuss why an understanding of strategic management is needed by all  employees and how this would help an employee better understand their  role within the organization. Incorporate a specific strategic  management theory into your response, and explain how this strategy  would be beneficial for non-executives to understand. Explain the importance of competitive advantage. *Include reference* In your own words, write a 400 word essay defining strategic management. Include: Identify key characteristics of strategic management.  Summarize common models of strategic management.  Provide a rationalization for using strategic management techniques.  The importance of competitive advantage.