BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Definition: The term ‘strategic management’ is used to denote a branch of management that is concerned with the development of strategic vision, setting out objectives, formulating and implementing strategies and introducing corrective measures for the deviations (if any) to reach the organization’s strategic intent.

Detailed explanation-2: -Strategic management refers to a branch of management that deals with an organization’s strategic objectives. This may include the development of the organization’s vision, outlining its operational objectives and coming up with and implementing the organization’s strategies.

Detailed explanation-3: -Strategic management is an organization’s process of continuous planning, executing, monitoring, analyzing and assessing all that is necessary for an organization to meet its goals and objectives in pursuit of a future direction.

Detailed explanation-4: -Strategic management involves setting objectives, analyzing the competitive environment, analyzing the internal organization, evaluating strategies, and ensuring that management rolls out the strategies across the organization.

Detailed explanation-5: -Strategic management involves providing the enterprise with an overall direction, setting organizational goals, developing policies and plans to achieve those goals, and allocating resources to implement the plans.