Strategic Management

Knowledge Center

Summary, forum, best practices, expert tips and information sources.


Strategic Management

What is Strategic Management? Meaning.

Strategic management is the field within business administration and Management concerned with the way organizations can determine and execute their strategy to realize their long-term goals effectively and efficiently.

Strategic management does not focus on one functional area of business, like Finance, HRM, or Marketing, but concerns the entire corporation, business unit or organization as a whole. It is a holistic approach to the big picture of how the organization should be run.

Strategic management involves the formulation (formation) and execution (implementation) of the Strategic Vision, major goals and strategic initiatives by a company's top management in order to create value for the owners (Shareholders) and Stakeholders, based on consideration of the Resources, Strengths and Weaknesses of the organization, the Industry Structure and Macro Environment in which the organization operates and competes.

Strategy Formulation

Strategy formulation (formation) involves analyzing the environment in which the organization operates (Strategic Analysis), then making strategic decisions about how the organization will compete (Strategic Decision-making). Formulation ends with a series of goals or objectives and measures for the organization to pursue (CSFs and KPIs).

Note that instead of this such Deliberate Strategy formulation (also called Formal Planning), strategy is increasingly viewed as an ongoing process of constant learning, experimentation and risk-taking; an adaptive, incremental and complex learning process (Emergent Strategy).

Strategy Execution

Strategy execution (implementation) involves decisions regarding how the organization's Resources (e.g., people, processes and systems) will be aligned and mobilized towards the objectives. Implementation results in the Organizational Structure, Leadership arrangements, Control Systems, Strategic Communication, Executive Compensation, Incentives, and Performance Management to track progress towards objectives, among others.

Note that while the two processes (formulation and execution) above are described sequentially, they are nowadays typically iterative and each provides input for the other.

Schools of Thought on Strategic Management

In his book "Strategy Safari", Henry Mintzberg gives an excellent overview of the entire field of strategic management by describing "Ten Schools of Thought".

Concepts and Methods used in Strategic Management

Go here for an extensive list of business and corporate Strategy Models and Methods.

Strategic Management Special Interest Group

Special Interest Group (200 members)

Forum about Strategic Management  

The most recent topics about: Strategic Management.

What is Strategic Management?
In the business environment people talk of strategic planning, strategic implementation, strategic direction, strategic (...)
40 reactions
🔥 NEW What are the Differences Between Classical Management and Strategic Management?
What are the main differences between classical management and strategic management and what are the changes in processe (...)
5 reactions
Best Practices about Strategic Management

Here you will find the most valuable ideas and practical suggestions.

Expert Tips about Strategic Management

Here you will find professional advices by experts.

5 Best Practices to Close the Strategy to Execution Gap

Strategy Execution, Strategy Focus, Organizational Commitment, (...)

How to Become a Self-tuning Enterprise: Advanced Experimenters

Organizational Agility, Strategic Agility, Real Options, Emergent Strategy (...)

Six Crucial Mind Shifts for Strategy Execution / Implementation

Change Management, Strategic Change, Resistance to CHange, Strategy Implementation (...)

Strategic Planning versus Strategic Thinking (Mintzberg)

Strategic Planning, Strategic Thinking, Emergent Strategy, Deliberate Strategy (...)
Information Sources about Strategic Management

Here you will find powerpoints, videos, news, etc. to use in your own lectures and workshops.

Top 5 Strategy Pitfalls

Strategy Errors, Strategy Traps, Strategy Barriers, Strategic Planning, Strategy Process (...)

Compare with: Strategic Analysis  |  Strategic Planning  |  Strategy Execution

Special Interest Group Leader

Are you an expert in Strategic Management? Sign up for free

Link to this knowledge center

Copy this code to your web site:


Return to Management Hub: Strategy

More on Management  |  Return to Management Dictionary  | 

This ends our Strategic Management summary and forum.

About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2020 12manage - The Executive Fast Track. V15.6 - Last updated: 27-9-2020. All names of their owners.