![]() ![]() ![]() The concept of strategic management has its roots in 1950s economic theory based on industrial-organisational approaches. Ultimately, strategic management is for organisations to gain a competitive edge over their competitors. Strategic management provides overall direction by developing plans and policies designed to achieve objectives and then allocating resources to implement the plans. It’s an action plan to ensure performance targets are met, and the business continues to grow. ![]() Strategic management is the management of a firm's resources to successfully achieve its goals and objectives. Here’s why strategic management can drive better performance. Yet by applying strategic management, organisations can not only survive, but thrive. A business without long term goals and objectives will struggle to set company direction, focus efforts and gain competitive advantage. ![]()
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