Management, specifically strategic management, is the art and science of formulating, implementing, and evaluating organizational strategies to achieve long-term goals and secure a competitive advantage. It involves the systematic planning of an organization’s resources and initiatives to align with its mission and vision. Strategic management encompasses a range of activities, from analyzing the external environment and identifying opportunities and threats to setting objectives, formulating strategies, and ensuring effective execution. It is a dynamic and ongoing process that requires adaptability to changing circumstances, fostering innovation, and aligning the efforts of individuals and teams toward the overarching goals of the organization. Ultimately, strategic management plays a pivotal role in steering the course of an organization in a complex and ever-evolving business landscape.
