Strategic Management

Strategic Management Definition :

“Strategic management can be defined as the art and science of formulating, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives.”

Proactive management of the employees of a company or organization. Strategic human resource management includes typical human resource components such as hiring, discipline, and payroll, and also involves working with employees in a collaborative manner to boost retention, improve the quality of the workexperience, and maximize the mutual benefit of employment for both the employee and the employer.

Characteristic:

Strategic management is understood as a process of information and decision-making, which is supported by the management functions of planning, organization, motivation and control. Its purpose is to rule on key business issues, company's survival and development, with particular emphasis on environmental impacts and crucial factors of productive capacity.

Strategic management is focused on the one hand to global operations, on the other on particularly sensitive spheres of activity, which due to its uniqueness is crucial for the whole company. This division was adopted due to the fact that the key business issues relate to key areas of activity across the company and it separated the strategic units.

Global activity can be understood in two ways:

• first, as overall purpose related economic activity,
• second, it is a company activity on every market of the world.