Strategic Management in general involves the evolution and performance of major objectives taken by the people at top management positions for others which are taken on the basis of resources which is depended on internal as well as external circumstances. Strategic management provides overall direction to the enterprise and involves specifying the organization’s objectives, developing policies and plans designed to achieve these objectives, and then allocating resources to implement the plans. Academics and practising managers have developed numerous models and frameworks to assist in strategic decision making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models often include a feedback loop to monitor execution and inform the next round of planning.

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