It's no secret that the Olympics are very popular, as shown by the fact that 206 countries took part in the 2016 Rio Olympics. Except for cricket, India's performance in international sports events, including the Olympics, has remained low despite the country being one of them. Cricket, in fact, is India's most popular sport and one of the most successful national teams in the world. Sport is undergoing fast transformation both as a discipline and as a business. As a result, strategic management is becoming more important in adapting to these changes. A sports team's success is as much a function of sound strategic choices as it is of the players' individual abilities. It's up to you to handle the supply chain properly and choose reputable suppliers. It's also based on who you hire for administrative and support positions. The functions of sales and marketing must be able to traverse new marketing channels while maintaining appropriate branding. Strategy formulation, strategy execution, and strategy assessment are all parts of strategic management. It begins with the development of strong vision and mission statements. An organization's mission statement and core principles should be included in this document.
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