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It provides management of vision and mission to accomplish. there are long period strategic planning and medium and short one . and it differs from an organization and industry to another .
I think it's this : What, as a company, want to accomplish (target), How we can do that ( ways), What is our target group, the Funds needed and who are our competitors. So, it's the basic questions that a company needs to answer before goes to production.
Strategic management is important because is helps in setting detailed goals, analysing all our internal and external resources, analysing our external environment, as well as stakeholder views. Good corporate governance needs an efficient strategic management process.
importance of strategic management is to achieve sustainable competitive advantages....
Effectively implement the organization's approved strategies and achieve their goals.
