Purpose of Strategic Management

The purpose of strategic management to increase the efficiency of business by aligning the processes, proper resource utilization, show the clear direction. Strategic management help to identify the opportunities available in the industry and tells the way to exploit the opportunities.

History of Strategic Management

Strategic management term originate in 1950s and was very popular in 1950s most of the business people believe strategic management is the solution of their problem. The process of strategic management become mature in the period of 80s, best practices are introduced and in 90s majority of businesses adapt it.