Strategic Management


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Strategic management is defined as the art and science of formulating, implementing, and evaluating cross-functional decisions that enable the organization to achieve its objectives.” Generally, strategic management is not only related to a single specialization but covers cross-functional or overall organization.

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  •  Strategic management is a comprehensive area that covers almost all the functional areas of the organization. It is an umbrella concept of management that comprises all such functional areas as marketing, finance & account, human resource, and production & operation into a top level management discipline. Therefore, strategic management has an importance in the organizational success and failure than any specific functional areas.
  • Strategic management deals with organizational level and top level issues whereas functional or operational level management deals with the specific areas of the business.
  • Top-level managers such as Chairman, Managing Director, and corporate level planners involve more in strategic management process.
  • Strategic management relates to setting vision, mission, objectives, and strategies that can be the guideline to design functional strategies in other functional areas
  • Therefore, it is top-level management that paves the way for other functional or operational management in an organization
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We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to contact@bms.co.in.

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