Strategic management is concerned with the overall direction and management of an organisation to ensure that it achieves its aims and objectives .

The aim of strategic management is to find ways of growing and developing the organisation so that it can deliver the vision defined for it by its owners and/or top management team. This does not mean ignoring short-term results, as a “jam tomorrow” strategy rarely survives. For commercial organisations it does mean a focus on sustaining and developing the profitability of the organisation.

This topic explains why your business should have a business strategy and the benefits of good strategic management. It also identifies the most common mistakes that organisations make as well as considering the numerous tools of strategic analysis.

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