strategic management


strategic management

Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organisation to achieve its objectives. It is the process of specifying the organisation’s objectives, developing policies and plans to achieve these objectives, and allocating resources to implement the policies and plans to achieve the organisation’s objectives. Strategic management, therefore, combines the activities of the various functional areas of an organisation to achieve organisational objectives. It is the highest level of managerial activity.

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Source: Wikipedia

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