Strategic management involves the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes.
Strategic management provides overall direction to the enterprise and involves specifying the organization's objectives, developing policies and plans designed to achieve these objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision making in the context of complex environments and competitive dynamics.
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* 2.1 Origins * 2.2 Change in focus from production to marketing * 2.3 Nature of strategy * 3 Concepts and frameworks * 3.1 SWOT Analysis * 3.2 Experience curve * 3.3 Corporate strategy and portfolio theory * 3.4 Competitive advantage * 3.5 Industry structure and profitability * 3.6 Generic competitive strategies * 3.7 Value chain * 3.8 Core competence * 3.9 Theory of the business * 4 Strategic thinking * 5 Strategic planning * 5.1 Environmental analysis * 5.2 Scenario planning * 5.3 Measuring and controlling implementation * 5.4 Evaluation * 6 Limitations * 7 Strategic themes * 7.1 Self-service * 7.2 Globalization and the virtual firm * 7.3 Internet and information availability * 8 Strategy as learning * 9 Strategy as adapting to change * 10 Strategy as operational excellence * 10.1 Quality * 10.2 Reengineering * 11 Other perspectives on strategy * 11.1 Strategy as problem solving * 11.2 Creative vs analytic approaches * 11.3 Non-strategic management * 11.4 Strategy as marketing * 11.5 Information- and technology-driven strategy * 11.6 Maturity of planning process * 11.7 PIMS study * 12 Other influences on business strategy * 12.1 Military strategy * 13 Traits of successful companies * 14 See also * 15 Further reading * 16 References * 17 External links