Strategic management is built on a company's clear grasp of its goal, future vision, and values that will drive its activities. Strategic planning, a subset of business management that comprises an organization's capacity to define both short- and long-term goals, is required for the process to work. The planning of strategic choices, actions, and resource allocation required to accomplish those goals is also included in strategic planning. Strategic management is often seen as having both financial and non-financial advantages. A strategic management process aids an organization's leadership in thinking about and planning for its future existence, fulfilling one of the board of directors' primary responsibilities. Strategic management directs the organisation and its personnel in the right path. Effective strategic management, unlike one-time strategic planning, plans, monitors, and tests an organization's operations on a continual basis, resulting in increased operational efficiency, market share, and profitability.

Gokul JL

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