STRATEGIC MANAGEMENT

Strategic Management

Strategic Management

It is the set of actions or decisions which helps in forming and implementing the plans that are produced to accomplish objectives of the company. Since it involves future oriented, complex, and long term decision making, and needs significant resources, the participation of higher level management is vital. (Patrick, 2003)

It's a three level process which involves business, functional, and corporate layer people, and maintains employees. With every progressively lower level, the actions are more specific, action oriented, short term, and narrow with lesser risks and minimum potential for remarkable effort. (Stephen, 2007)

Strategic Management Process' Components

Company mission ...