An Overview of Strategic Management: A Key factor to success in Corporate World

Bibhuti B Pradhan, Mr. Sachin Kumar Sharma

doi:10.17762/pae.v57i9.352

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Published: Jan 26, 2021

DOI: https://doi.org/10.17762/pae.v57i9.352

Bibhuti B Pradhan, Mr. Sachin Kumar Sharma

Abstract

It is very important to understand what the present situation and the types of barriers the company should face in the existing environment in order to determine the mission and the objectives of an organization. The organization can carry out its task and goals by successfully deploying strategies. The companies should therefore be informed about strategic planning and management. Strategic planning, one of the most important management tools that helps managers identify the priorities and the main actions needed in order to achieve an organizations mission and goals. Strategic management is today one of the main topics in organizational management due to the dynamic business environment. This paper entails the concepts of strategy, strategic planning, strategic thinking, strategic management and the importance of strategic management.

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Vol. 57 No. 9 (2020): Volume 57 No. 9 (2020)

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