2. Strategic Management and Decision Making

Strategic management involves planning and directing an organization’s resources to achieve long-term goals. It’s like creating a roadmap for a business, outlining where it wants to go and how to get there. Decision-making is a key part of this process, as leaders evaluate options and make choices that align with their strategy. Together, these processes help organizations respond to challenges and opportunities in their environment, ensuring they stay competitive and effective over time. In essence, strategic management and decision-making guide a business in fulfilling its mission while adapting to changes in the marketplace.