Thursday, December 8, 2011

What is Strategic Management?

Definition of Strategic Management:

  • “Strategic management is a process by which top management determines the long term direction and purpose of the organizer by ensuring that, careful formulation effective implementation and continuous evaluation of the strategy takes place.”
- Lloyd L Byarr
Leslie W. R
Shaker A. Zahra (1996)
  • “Strategic management refers to the managerial process of forming a strategic vision, setting objectives, crafting a strategy, implementing and executing the strategy and evaluating performance and initiating corrective adjustments in the visions, objectives and strategies.”
- Aurther A. Thompson
A. J. Strickland 

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