Concept of strategic management

Strategic is something that is important,critical,central and long-term for future direction.
Management gets the job done by working through people to achieving objectives effectively.
Strategic management refer to strategic decisions and actions of top management.It is concerned with implementation of strategic to achieve long-term objectives.It involves decision about allocation of significant resources which impact the long-term performance of the organization.Resources can be people,money,technology,time and information.

• According to Wheelen and Hunger :Strategic management is that set of managerial decision and action that determines the long-term performance of a corporation.
• According to Jauch and Glueck :Strategic management is a stream of decisions actions which lead to the development of an effective strategy or strategies to help achieve corporate objective.
• According Pearce and Robbinson :Strategic management is the set of decision and actions that result in the formulation and implementation of planes designed to achieve a company's objectives.
• According to Johnson and scholes :Strategic management included understanding the strategic position of an organization,strategic choices for the future,and turning strategic into action.

Strategic management provides guidance and future direction to organization.It makes strategic decisions.It facilitates coordinated allocation of the organization by turning strategic into action.

• Strategic management emphasizes environment and strategic factors.