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Definition of

strategic management

General Management

management for longer-term objectives the development of corporate strategy, and the management of an organization according to that strategy. Strategic management focuses on achieving and maintaining a strong competitive advantage. It involves the application of corporate strategy to all aspects of the organization, and especially to decision making. As a discipline, strategic management developed in the 1970s, but it has evolved in response to changes in organization structure and corporate culture. With greater empowerment, strategy has become the concern not just of directors but also of employees at all levels of the organization.

Recommended Further Reading (Term count)
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Definitions of ’strategic management’ and meaning of ’strategic management’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’strategic management’ and other financial terms with our online QFINANCE Financial Dictionary.

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