Strategic Management Concepts

Strategic management involves organizations defining their long-term goals and making plans to achieve them. It includes analyzing the company’s strengths, weaknesses, opportunities, and threats (SWOT), setting clear objectives, and allocating resources effectively. The goal is to position the organization competitively in the market, adapt to changes, and ensure sustainable success. Essentially, it's about thinking ahead, making informed decisions, and guiding the organization to fulfill its mission while navigating external challenges.