The first entry for Strategic Management

Assalamualaikum and a very good evening. Now, I would have to make a topic about strategic management. Why ? Because it is part of my assessment in USIM and my hobby which to share something that are valuable for human mankind which is the most important thing that is KNOWLEDGE.

First chapter : The Nature of Strategic Management.

Definition : What is strategic management ?
answer : the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives.

There are 3 stages is strategic management.

1. Strategy formulation
2. Strategy implementation
3. Strategy evaluation 

There are several key terms that need to be pondered

1. competitive advantage
2. strategist
3. vision statement
4. mission statement
5. external opportunities
6. external threats
7. internal strength
8. internal weakness
9. objectives
10. strategies
11. annual objectives
12. policies

Benefits of Strategic Management

• enhanced communication
• deeper/improved understanding
• greater commitment
• lastly, wait the result