{"id":11788,"date":"2024-12-05T12:12:12","date_gmt":"2024-12-05T06:42:12","guid":{"rendered":"https:\/\/razorpay.com\/blog\/?p=11788"},"modified":"2024-12-10T14:30:12","modified_gmt":"2024-12-10T09:00:12","slug":"strategic-management","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/business-banking\/strategic-management\/","title":{"rendered":"Strategic Management: Definition, Process &#038; Benefits"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69dcb00974f25\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69dcb00974f25\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/strategic-management\/#What_is_Strategic_Management\" >What is Strategic Management?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/strategic-management\/#Approaches_of_Strategic_Management\" >Approaches of Strategic Management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/strategic-management\/#Styles_of_Strategic_Management\" >Styles of Strategic Management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/strategic-management\/#What_Does_Strategic_Management_Involve\" >What Does Strategic Management Involve?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/strategic-management\/#Benefits_of_Strategic_Management\" >Benefits of Strategic Management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/strategic-management\/#5_Stages_of_Strategic_Management_Process\" >5 Stages of Strategic Management Process<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/strategic-management\/#Types_of_Strategies_Used_in_Strategic_Management\" >Types of Strategies Used in Strategic Management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/strategic-management\/#Popular_Approaches_of_Strategic_Management\" >Popular Approaches of Strategic Management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/strategic-management\/#Example_of_Strategic_Management\" >Example of Strategic Management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/strategic-management\/#Strategic_Financial_Management\" >Strategic Financial Management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/razorpay.com\/blog\/business-banking\/strategic-management\/#Frequently_Asked_Questions\" >Frequently Asked Questions<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_is_Strategic_Management\"><\/span><b>What is Strategic Management?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Strategic management is the process of organising and allocating resources in order to achieve business goals. It involves analysing the environment and business performance, setting goals, developing strategies and ensuring managers implement them organisation-wide.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Strategic planning makes use of tools like SWOT to analyse the position and performance of the business and use this data to make well-informed decisions. This planning happens at a higher level, but implementation and execution happens at the department level. <\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-13386 aligncenter\" src=\"https:\/\/d6xcmfyh68wv8.cloudfront.net\/blog-content\/uploads\/2023\/06\/process-of-strategic-management-1.png\" alt=\"process of strategic management\" width=\"1852\" height=\"1121\" srcset=\"https:\/\/blog.razorpay.in\/wp-content\/uploads\/2023\/06\/process-of-strategic-management-1.png 1852w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2023\/06\/process-of-strategic-management-1-300x182.png 300w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2023\/06\/process-of-strategic-management-1-1024x620.png 1024w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2023\/06\/process-of-strategic-management-1-768x465.png 768w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2023\/06\/process-of-strategic-management-1-1536x930.png 1536w\" sizes=\"auto, (max-width: 1852px) 100vw, 1852px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Approaches_of_Strategic_Management\"><\/span><b>Approaches of Strategic Management<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There are largely two approaches to strategic management: prescriptive and descriptive. The prescriptive approach looks into the process of creating a management strategy, while the descriptive approach focuses on how these strategies can be implemented. Both approaches should be used parallelly.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Prescriptive strategic management plans create a framework for planning so businesses can\u00a0 define their vision, goals, and the steps needed to achieve them. On the other hand, the descriptive approach brings practicality by addressing real-world challenges and opportunities during execution.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Styles_of_Strategic_Management\"><\/span><b>Styles of Strategic Management<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Strategic management is generally carried out at a high level, by upper management, directors or C-suite executives. Some organisations may have a department dedicated to strategy.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The style of strategic management followed in an organisation is determined by leadership. Further, how strategies are implemented must also be closely followed by executives. Simply creating a strategy and not following up on how it has been executed at the grassroots level is not sufficient.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The style of strategic management followed by leadership and management must be all-encompassing, from strategy creation to execution. A good style to follow is <\/span><b>participative leadership, <\/b><span style=\"font-weight: 400;\">where leaders involve team members in the decision making process.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Does_Strategic_Management_Involve\"><\/span>What Does Strategic Management Involve?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Strategic management and planning involves identifying business challenges, planning and executing strategy to solve these challenges and improve business performance. Strategy analysts and managers use tools like SWOT and Scorecards in strategic management.<\/p>\n<p>Strategic management is important to ensure that resources are allocated correctly at both the organization level and department-wise. Strategic management initiatives need to be planned for both the business at large and individual teams.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Benefits_of_Strategic_Management\"><\/span><b>Benefits of Strategic Management<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><strong>Financial benefits<\/strong><\/h3>\n<h4><span style=\"font-weight: 400;\">Profitability and productivity<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">A good strategy, when implemented well, results in better productivity and thus better profitability for the business. For example, a company that invests in employee training to enhance skills and efficiency can streamline operations, reduce waste, and increase output. This boost in productivity allows the business to lower costs or deliver higher value to customers, driving profitability.<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Risk mitigation<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Strategic management reduces the impact of any foreseen or unforeseen risks significantly. By accounting and providing for any future volatilities or turbulences, management can ensure the business is padded against the impact of events like the COVID pandemic, global economic crises, etc.\u00a0<\/span><\/p>\n<h3><strong>Non-financial benefits<\/strong><\/h3>\n<h4><span style=\"font-weight: 400;\">Ensures objectivity<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">The cornerstone of good strategic management is data-driven decision making. When strategy is designed with data in mind, it ensures objectivity.<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Improved decision-making<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Strategic management provides a framework for better decision-making by allowing leadership to assess the potential impact of their decisions on the overall strategic objectives of the organization.\u00a0<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Enhanced collaboration<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Strategy management encourages collaboration between departments and functions ensuring that everyone is working toward the same goals and objectives.\u00a0<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Increased customer satisfaction<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Strategy management helps organizations to better understand their customers and develop strategies to meet their needs.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"5_Stages_of_Strategic_Management_Process\"><\/span><b>5 Stages of Strategic Management Process<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There are 5 steps in strategic management:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Identify goals and business direction<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Analyse current situation<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Create a strategy and plan<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Implement the strategy<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Evaluate the results<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Let\u2019s understand each step in more detail:<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Identify Goals and Business Direction<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">All business processes should be focused on achieving a certain goal. Whether this is overall profitability or one particular acquisition, it is imperative to be clear on this goal right from the beginning.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Analyse Current Situation<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Use tools like the SWOT analysis to understand whats working with the current system and what needs improvement. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. This strategic analysis helps with insight into the internal (strengths and weaknesses) and external (opportunities and threats) factors that are likely to either contribute to or prevent business growth.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Create a Strategy and Plan<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">This step is the most important \u2013 it involves coming up with the actual strategy on how to allocate the business\u2019s resources in the most efficient way. <\/span><i><span style=\"font-weight: 400;\">Resources <\/span><\/i><span style=\"font-weight: 400;\">here include employees, money, or machinery. The plan should be SMART \u2013 Specific, Measurable, Achievable, Relevant and Time-bound.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Implement the Strategy<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Once the strategies have been formulated, the next step is to put the plan into action. Start by communicating the strategy and plan of action to all levels of management, and ensure you monitor all progress made.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Evaluate the Results<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The final step of strategic management is to evaluate and assess the effectiveness of the implemented strategies. This involves measuring the strategies\u2019 results and making changes as and when needed. If the organization fails to achieve its goals, you can adjust the strategy and re-implement it. <\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Types_of_Strategies_Used_in_Strategic_Management\"><\/span><b>Types of Strategies Used in Strategic Management<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li><span style=\"font-weight: 400;\"><strong> Business Strategy:<\/strong> A business strategy focuses on developing a long-term plan of action to achieve a company\u2019s goals, such as increasing profits or market share. It involves analyzing the current market and competitors, creating a strategic vision, and setting objectives and goals.<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><strong> Corporate Strategy:<\/strong> Corporate strategy is a plan of action that defines how a company will reach its goals and objectives. It involves analyzing the current environment, identifying strategic goals and objectives, and determining the best way to meet them.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><strong> Competitive Strategy:<\/strong> Competitive strategy is a plan of action that companies use to gain an edge over their competitors. It involves analyzing competitors, identifying their strengths and weaknesses, and devising strategies to capitalize on opportunities and reduce threats.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><strong> Innovation Strategy:<\/strong> Innovation strategy is the process of developing new products, services, and processes that can give a company a competitive advantage. It involves identifying customer needs, brainstorming ideas, developing prototypes and testing them.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><strong> Operational Strategy:<\/strong> Operational strategy focuses on how to optimize resources and processes in order to create value and achieve organizational goals. It involves analyzing current operations, setting goals and objectives, and creating plans to reach those goals.<\/span><\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Popular_Approaches_of_Strategic_Management\"><\/span><b>Popular Approaches of Strategic Management<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><strong>SWOT Analysis<\/strong><\/h3>\n<p>SWOT analysis is a framework used to assess a company&#8217;s competitive position and to create strategic planning. It stands for strengths, weaknesses, opportunities, and threats. The SWOT analysis evaluates internal and external variables as well as present and anticipated future situations.<\/p>\n<p>A SWOT analysis is intended to help you take a practical, fact-based, and data-driven look at the advantages and disadvantages of a company, its efforts, or its sector. The organisation must avoid preconceived notions or grey regions and concentrate on real-life circumstances in order to maintain the analyses&#8217; accuracy. Companies should use it as a reference rather than a strict prescription.<\/p>\n<h3><strong>Balanced Scorecard<\/strong><\/h3>\n<p>A balanced scorecard framework helps organisations optimise their internal processes to enhance their external output. It uses historical performance as a key indicator and suggests different ways for companies to make informed decisions in future.<\/p>\n<p>A balanced scorecard has four points: learning &amp; development, company processes, customer perspectives, and financial data. Since the vision and strategy of a corporation are formed on these four components, it becomes important for the company leadership to analyse the information gathered through this scorecard.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Example_of_Strategic_Management\"><\/span>Example of Strategic Management<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A good example of strategic management in real life is Starbucks. In 2008, Starbucks faced strong competition from fast food chains like McDonald&#8217;s and was affected by the ongoing financial crisis.<\/p>\n<p>To solve this issue, Starbucks implemented the &#8220;My Starbucks Idea&#8221; programme, where customers could directly share feedback and suggestions with management. By listening to their core audience, Starbucks gained valuable insights into what truly mattered to their customers.<\/p>\n<p>This strategic move led to several changes that improved the customer experience. Free Wi-Fi, comfortable seating, and the popular rewards program were all born from this initiative. By focusing on what its customers valued, Starbucks was able to turn things around and solidify its market position.<\/p>\n<p class=\"first-token\" data-sourcepos=\"1:1-1:17\">Here&#8217;s how Starbucks&#8217;s strategic moves align with SWOT analysis.<\/p>\n<p data-sourcepos=\"3:1-3:18\"><strong>SWOT Analysis:<\/strong><\/p>\n<ul data-sourcepos=\"5:1-5:56\">\n<li data-sourcepos=\"5:1-5:56\"><strong>Strengths:<\/strong> Brand recognition, loyal customer base, global presence.<\/li>\n<li data-sourcepos=\"6:1-6:93\"><strong>Weaknesses:<\/strong> Limited menu options, high prices compared to competitors, long wait times.<\/li>\n<li data-sourcepos=\"7:1-7:56\"><strong>Opportunities:<\/strong> Improve customer experience, expand product offerings, leverage technology.<\/li>\n<li data-sourcepos=\"8:1-9:0\"><strong>Threats:<\/strong> Competition from fast-food chains, rising operational costs, economic downturn.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Strategic_Financial_Management\"><\/span>Strategic Financial Management<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Most businesses struggle with proper financial management. Fragmented, disconnected finances result in poor decision-making and a lack of financial visibility.<\/p>\n<p>RazorpayX allows businesses to manage all these functions from one single dashboard.<\/p>\n<ul>\n<li aria-level=\"1\">Manage payments to employees, customers and vendors<\/li>\n<li aria-level=\"1\">Manage your current account<\/li>\n<li aria-level=\"1\">Automate and schedule payments<\/li>\n<li aria-level=\"1\">End-to-end supply chain management<\/li>\n<li aria-level=\"1\">Payroll and HRMS management<\/li>\n<\/ul>\n<div style=\"text-align: center;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/razorpay.com\/x\/?r=blog_cta_business_banking_strategic_management&amp;utm_source=blog&amp;utm_medium=cta\" target=\"_blank\" rel=\"noopener\">Explore RazorpayX<\/a><\/div>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span>Frequently Asked Questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div id=\"rank-math-rich-snippet-wrapper\"><div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-1\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"> What is strategy management? <\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Strategy management is the process of developing and executing strategies to ensure an organization achieves its goals. It involves setting objectives, analyzing the organizational environment, developing strategies, tracking progress, and making adjustments when necessary. <\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-2\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">What are the benefits of using strategy management? <\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The benefits of using strategy management include improved decision making, increased efficiency, better coordination between departments, and improved alignment with organizational goals. It can also help organizations to anticipate market trends and respond quickly to changing conditions. <\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-3\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">What are the main components of strategy management?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The main components of strategy management are goal setting, environmental analysis, strategy development, implementation and control. Goal setting involves setting clear, measurable objectives for the organization. Environmental analysis involves assessing the external environment to identify opportunities and threats. Strategy development involves creating a plan to achieve the objectives. Implementation involves executing the strategy. Finally, control involves monitoring progress and adjusting the strategy when necessary.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>What is Strategic Management? Strategic management is the process of organising and allocating resources in order to achieve business goals. It involves analysing the environment and business performance, setting goals, developing strategies and ensuring managers implement them organisation-wide.\u00a0 Strategic planning makes use of tools like SWOT to analyse the position and performance of the business<\/p>\n","protected":false},"author":106,"featured_media":11791,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[27],"tags":[],"class_list":{"0":"post-11788","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business-banking"},"_links":{"self":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/11788","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/users\/106"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/comments?post=11788"}],"version-history":[{"count":4,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/11788\/revisions"}],"predecessor-version":[{"id":19362,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/11788\/revisions\/19362"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media\/11791"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media?parent=11788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/categories?post=11788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/tags?post=11788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}