Strategic Management
Strategic management is the set of decisions and actions that result in the formulation and implementation of plans designed to achieve a company’s objectives. It is the process of identifying and executing the organization’s strategic plan, by matching the company’s capabilities with the demands of its environment.
It involves the planning, directing, organizing and controlling of a company’s strategy-related decisions and action. Strategic management is needed for large-scale, future-oriented plans by interacting with the competitive environment to achieve company objectives.
Category: Management & Organization Studies
More from this Section
- Selection
Selection involves predicting which applicants will be successful if hired. Screening ... - Steering Committee
A Steering Committee is a type of special committee made up of Senior Executives which ... - Self-esteem
Self-esteem is an individual’s degree of like or dislike for himself or herself. ... - Value chain analysis
A perspective in which business is seen as a chain of activities that transforms inputs ... - Operating Environment
Factors in the immediate competitive situation that affect a firm’s success in acquiring ...