ISSN: 2044-9038 (Print) 2044-9046 (Electronic)

Clinical Practice

Strategic-management-journals-publications

Strategic management is based around an organization's clear understanding of its mission; its vision for where it wants to be in the future; and the values that will guide its actions. The process requires a commitment to strategic planning, a subset of business management that involves an organization's ability to set both short- and long-term goals. Strategic planning also includes the planning of strategic decisions, activities and resource allocation needed to achieve those goals. Having a defined process for managing an institution's strategies will help organizations make logical decisions and develop new goals quickly in order to keep pace with evolving technology, market and business conditions. Strategic management can, thus, help an organization gain competitive advantage, improve market share and plan for its future. There are many schools of thought on how to do strategic management, and academics and managers have developed numerous frameworks to guide the strategic management process. Descriptive strategic management means putting strategies into practice when needed. Both methods of strategic management employ management theory and practices. While upper management is responsible for implementing strategies, ideas, goals or organizational challenges can come from any member of the company. Many companies employ strategists whose jobs it is to think and plan strategically to improve company function.    

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