What is strategic management? List the steps in the strategic planning process.
Strategic management is when the management is planning is an organizational management activity that is used to set priorities, resources, ensure that employees and other stakeholders are working toward common goals, establish agreement around intended outcomes/results, and assess and adjust the organization’s direction in response to a changing environment. The 5 steps are: determine where you are, figure out what is important, define what you must achieve, Determine who is accountable, Review. Doing these things will result in great business practice and more specifically great management as they are all priorities of management.