Strategic Management: Philosophy or Management Technique?

Discussion of what the term “strategic management” has meant in the past and what it means today, and how significant strategic management is in a global economy.

Not too long ago, strategic management was a term that applied to a company’s short- and long-term planning goals. Such planning was generally done by senior-level officers or their designated experts in the company. Today, with the global economy growing every day, strategic management has taken on a new meaning, making it both a management technique and a philosophy.