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Strategic management

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Strategic management is the process of specifying an organization's objectives, developing policies and plans to achieve these objectives, and allocating resources so as to implement the plans. It is the highest level of managerial activity, usually performed by the company's Chief Executive Officer (CEO) and executive team.

In broad terms it asks three questions:

  1. Where are we now?
  2. Where do we want to go?
  3. How do we get there?

The process involves matching the companies' strategic advantages to the business environment the organization faces.

Also see: