Strategic Management

&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad1" id&equals;"quads-ad1" style&equals;"float&colon;left&semi;margin&colon;0px 0px 0px 0&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;<h3>Strategic Management Definition<&sol;h3>&NewLine;<p align&equals;"justify">Strategic management is the art and science of formulating&comma;implementing and evaluating cross function decision that enable to business to achieve its objectives&period; Strategic management can also be defined as the formal process for defining company vision &amp&semi; mission&comma; assess internal &amp&semi; external environment&period; formulate strategies under resource constraints&comma; implement strategies&comma;evaluate the strategies implementation and feedback in case of strategy failure&comma; implementation mistakes for re-assessing&period;<&sol;p>&NewLine;<h3>Integration of Business Functional Areas<&sol;h3>&NewLine;<p align&equals;"justify">As the definition implies strategic management integrate the functional areas includes marketing&comma;finance&comma;operations&comma;management&comma; human resource&comma;research &amp&semi; development and Information technology to achieves the business objectives&period;The term strategic management also referred as strategic planning&comma; strategic management is most often used in business word and strategic planning in academics&period;&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad2" id&equals;"quads-ad2" style&equals;"float&colon;none&semi;margin&colon;0px 0 0px 0&semi;text-align&colon;center&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad3" id&equals;"quads-ad3" style&equals;"float&colon;none&semi;margin&colon;0px&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;