OVERVIEW OF STRATEGIC MANAGEMENT

Introduction

Activities that are encompassed by strategic management have in the past been referred to as strategic planning, long-range planning, corporate planning and business policy.

Planning have been put aside in favour of “Management” which suggests a broader approach to the activities involved. This strategic management is fundamentally about “setting the aims of the organisation, choosing the most appropriate strategies towards achievement of those aims and fulfilling both overtime.”

Thus strategic management is seen to be much “about vision and direction of mechanisms and structures.”