Concept information
...
business and management
organization studies
organization studies encyc
approaches to management theory
Preferred term
strategic management
Definition
- Strategic management is an externally oriented philosophy of managing an organization that links strategic thinking and analysis to organizational action. As a continuous, explicit philosophy of managing an organization, strategic management Provides a framework for thinking about the “business” Creates a fit between the organization and its external environment Provides a process of coping with change and organizational renewal Fosters anticipation, innovation, and excellence Facilitates consistent decision making Creates organizational focus Represents the process of organizational leadership Strategic management provides an ongoing philosophy for developing and managing the plans and actions of the organization. [Source: Encyclopedia of Health Care Management; Strategic Management]
Broader concept
Narrower concepts
- asset specificity
- balanced scorecard
- BCG Growth-Share Matrix
- business policy
- business strategy
- competitive advantage
- core competence
- core competencies
- diversification strategy
- dynamic capabilities
- economies of scale
- entry barriers
- excellence characteristics
- exit barriers
- external business environment
- financialization
- firm growth
- first-mover advantages and disadvantages
- hypercompetition
- innovation (business)
- knowledge-based view of the firm
- learning organizations
- mobility barriers
- modes of strategy: planned-emergent
- multinational corporation
- organizational effectiveness
- political environments
- processual approach to strategy
- product-market differentiation model
- recourse-based view of the firm
- resource orchestration management
- seven-s framework
- shareholder approach
- six sigma
- stakeholder theory
- strategic alliances
- strategic decision making
- strategic entrepreneurship
- strategic flexibility
- strategic frames
- strategic groups
- strategic information systems
- strategic interests
- strategic leadership
- strategic marketing
- strategic planning
- strategic practice
- strategic profiles
- strategy and ethics
- strategy and structure
- strategy-as-practice
- SWOT analysis
- tacit knowledge
- upper-echelons theory
- value chains
- value creation
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/strategic_management
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