What is strategic management?

Strategic management covers all the activities involved in developing an organization's strategy.

It's a set of plans that defines how the company aims to achieve its objectives, the sources of its competitive advantages, and how to attract and satisfy its customers.

This fact sheet answers the question of what strategic management is, by outlining the various stages involved in its implementation:

• identifying the organization's mission and objectives ;

• external analysis ;

• internal analysis ;

• strategy formulation ;

• implementing these strategies;

• evaluation of results.

The strategic management process takes place in six stages, from planning and implementation to evaluation of the strategy put in place.