Strategic Management Meaning, Definition, and Explanation

Authors

  • Sookchok Thongsook Ularn International Business Silpakorn University International College

Keywords:

Strategic management, Strategic planning, Strategic implementation, Strategic analysis, Strategic formulation

Abstract

This academic article aims to explain the definitions and concepts of strategic management, strategic planning, strategy and tactic in order to provide better understanding among the differences of each term. The author has compiled and concluded these definitions and concepts based on several textbooks. According to the strategic management, there are three essential elements: strategic formulation, strategic implementation, and strategic evaluation. Strategic formulation can be divided into four elements: strategic analysis, strategic objectives, vision and mission statements, and strategic generation and selection. Strategic implementation is the process where the strategic planning has to be converted into the concrete forms, so the organization will be able to achieve the goals anticipating with the managerial leaders’ capabilities. Strategic evaluation, the final process of strategic management, can be done by the top managerial leaders of the organizations in order to evaluate the whole process of strategic management whether this can meet the goals or not.

References

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Published

20-11-2018

How to Cite

Ularn, S. T. (2018). Strategic Management Meaning, Definition, and Explanation. Humanities and Social Sciences Journal of Pibulsongkram Rajabhat University, 12(2), 308–319. Retrieved from https://so01.tci-thaijo.org/index.php/GraduatePSRU/article/view/111772

Issue

Vol. 12 No. 2 (2018): July - December 2018

Section

Academic article

License

Any articles or comments appearing in the Journal of Humanities and Social Sciences, Rajabhat Phibulsongkram University, are the intellectual property of the authors, and do not necessarily reflect the views of the editorial board. Published articles are copyrighted by the Journal of Humanities and Social Sciences, Rajabhat Phibulsongkram University.