Definitions for strategic management
strate·gic manage·ment

WiktionaryRate this definition:0.0 / 0 votes

1. strategic managementnoun

   The art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives.

WikipediaRate this definition:0.0 / 0 votes

1. Strategic management

   In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback loop to monitor execution and to inform the next round of planning.Michael Porter identifies three principles underlying strategy: creating a "unique and valuable [market] position" making trade-offs by choosing "what not to do" creating "fit" by aligning company activities with one another to support the chosen strategyCorporate strategy involves answering a key question from a portfolio perspective: "What business should we be in?" Business strategy involves answering the question: "How shall we compete in this business?"Management theory and practice often make a distinction between strategic management and operational management, with operational management concerned primarily with improving efficiency and controlling costs within the boundaries set by the organization's strategy.

WikidataRate this definition:0.0 / 0 votes

1. Strategic management

   Strategic management analyzes the major initiatives taken by a company's top management on behalf of owners, involving resources and performance in internal and external environments. It entails specifying the organization's mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs. A balanced scorecard is often used to evaluate the overall performance of the business and its progress towards objectives. Recent studies and leading management theorists have advocated that strategy needs to start with stakeholders expectations and use a modified balanced scorecard which includes all stakeholders.

How to pronounce strategic management?

1. Alex

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How to say strategic management in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of strategic management in Chaldean Numerology is: 9

2. Pythagorean Numerology

   The numerical value of strategic management in Pythagorean Numerology is: 6

References

1. ^ Wiktionary
   https://en.wiktionary.org/wiki/Strategic_Management
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Strategic_Management
3. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=strategic management