More specifically, the Strategic Management Journal seeks to ... Strategic Management Definition: The term 'strategic management' is used to denote a branch of management that is concerned with the development of strategic vision, setting out objectives, formulating and implementing strategies and introducing corrective measures for the deviations (if any) to reach the organization's strategic intent.It has two-fold objectives: Strategic management can also be defined as a bundle of decisions and acts which a manager undertakes and which decides the result of the firm's performance. The manager must have a thorough knowledge and analysis of the general and competitive organizational environment so as to take right decisions. Strategic planning has become a fairly routine and common practice at all levels of government in the United States and elsewhere.
The pressure is on many organizations to change the mission and practices of the organization is made up of rule making bodies, such as legislature or a board appointed by public official. Abstract This article highlights the applicability and effectiveness of two well established strategic management tools, value chain and stakeholder analyses, in the context of seven public sector strategic consultancy projects. The article provides a strong justification for the use of both models, when used independently, but particularly in conjunction, as powerful strategic analytical ... Strategic Management Model with examples.