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ANNALS of the ORADEA UNIVERSITY. Fascicle of Management and Technological Engineering, Volume VII (XVII), 2008 …show more content…
It involves the application of corporate strategy to all aspects of the organization, and especially to decision making. As a discipline, strategic management developed in the 1970s, but it has evolved in response to changes in organization structure and corporate culture. With greater empowerment, strategy has become the concern not just of directors but also of employees at all levels of the organization. No clear understanding of Management by Objectives in relation to Strategic Management has emerged in the literature. This paper attempts to point out the complexities surrounding Management by Objectives, and how the evolution of Strategic Management as a group process supersedes MBO as a system of planning, implementation, obtaining feedback, evaluating and controlling the functions for all types of businesses. Strategic management is the process that involves planning and operationalizing the strategy of an organization. The involvement of teams in the strategic management process greatly facilitates its successful implementation.

Basic management function involving formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources. The planning process: identifies the goals or objectives to be achieved, formulates strategies to achieve them, arranges or creates the means required, and implements, directs, and monitors all steps in their

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