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INTRODUCTION to STRATEGIC MANAGEMENT

Okay, now we go through chapter 1 on strategic management about the introduction of this subject.

1.1 Strategic management means about drafting, implementing and evaluating cross-functional decisions that will enable an organization to achieve its long-term objectives.

Strategic Management Process:
1) Strategic Formulation
2) Strategic Implementation
3) Strategic Evaluation 

1.2 STRATEGY  

A strategy is concerned with integrating company activities and allocating resources, so that the present objectives can be met.

1.3 PLANNING

Planning is a process of preparing ways to use resources more economically and efficiently, so that the purpose of the company is achieved. 
Set a goals also involve in planning activities.

1.4 Corporate Planning

The terminologies corporate planning and long-term planning are often used interchangeably with the terminology "strategic planning".


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