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

It specifies the organization's mission, vision and objectives and then allocates resources to achieve these objectives.

The strategic management process is made up of three main components which are strategy formulation, strategy implementation and strategy evaluation. Apart from that, it is also emphasizes on the analysis of the external and internal environment of a company in order to achieve the company's objectives.
Check it more on the video above.

For the next post i will show you about the strategic management planning and corporate planning. Hope you're enjoy :-)