Strategy management is the art and science of formulation, implementation, and evaluation of cross-functional decisions which can allow the company to aim its target. Strategy Management is a process of organizational goal setting, planning and policy development to achieve the goal, and allocate resources to implement policies and planning for the achievement of organizational goals. Strategy Management combines activities of the various functional parts of a business to achieve organizational goals.
Management Strategy is the highest management activity which is usually arranged by the board of directors and executed by the CEO and the organization’s executive team. Strategy Management provides overall direction for the company and closely related to the field of organizational behavior.
Various books define strategy management with the words differently. Among them, a strategy management is a strategy planning that oriented for the future (called the vision), and established as the supreme leader’s decision (the fundamental and principle decision), that enables organizations to effectively interact (called missions), in an attempt to produce something (operational planning to produce goods and / or services, and service) that has quality, to be directed for optimizing the achievement of goals (called the strategic goals) and other organizational goals.
Image: www.electrical-res.com