What is "strategic management?"

Answer by  LauraCalico (278)

Essentially, strategic management is a field that deals with a way of managing that utilizes resources in order to enhance performance. Part of the focus is setting goals; laying out the mission, vision and objectives is also part of strategic management, as is developing policies and plans. Strategic management isn't a one-time or short-term thing but, rather, an ongoing process.

Answer by  JeyaramanA (16)

Strategic management starts with identifying goals, for both organization and for the employees, and then transforming those goals into action items. Finally these action items are analyzed and will be assigned to appropriate individuals to achieve the goals.