In the context of the components of company Strategic management are the means to execute the strategies for achieving the goals of a company.
The management of an organization's resources to accomplish its goals and objectives is known as strategic management.
There are various schools of thought in strategic management. While a descriptive method focuses on how strategies should be implemented, a prescriptive approach to strategic management specifies how strategies should be established. Whether strategies are created via an analytical process, in which all dangers and opportunities are taken into account, or if they are more like general guiding principles to be applied, is where these schools diverge. Organizational structure, business culture, and personnel skills and competences are all significant determinants of how well an organization can accomplish its stated goals. Companies that are rigid may struggle to thrive in a dynamic commercial climate.
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