Strategic management is a critical process that involves defining a business’s direction and making decisions on allocating resources to pursue this direction. It encompasses setting objectives, analyzing competitive environments, and evaluating internal organization structures. By implementing strategic management, companies can ensure they are on the right path to achieving their long-term goals and maintaining a competitive edge in their industry.
What is Strategic Management?
Strategic management is the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives.
