| Business (or Strategic) management is the art, science, and craft of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its long-term objectives. |
Business (or Strategic) management involves the art, science, and craft of devising, executing, and assessing cross-functional decisions aimed at realizing an organization's long-term goals. |
| It is the process of specifying the organization's mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs. |
It is the process of defining the mission, vision, and goals of the organization, creating policies and strategies, often through projects and programs, aimed at achieving these goals, and then allocating resources to execute these policies, plans, projects, and programs. |
| Strategic management seeks to coordinate and integrate the activities of the various functional areas of a business in order to achieve long-term organizational objectives. |
Strategic management aims to align and unify the operations of different functional departments within a company to accomplish overarching organizational goals over the long term. |
| A balanced scorecard is often used to evaluate the overall performance of the business and its progress towards objectives. |
A balanced scorecard is often used to evaluate the overall performance of the business and its progress towards objectives. |
| Strategic management is the highest level of managerial activity. |
Strategic management is the highest level of managerial activity. |
| Strategies are typically planned, crafted or guided by the Chief Executive Officer, approved or authorized by the Board of directors, and then implemented under the supervision of the organization's top management team or senior executives. |
Strategies are usually devised, formulated, or guided by the Chief Executive Officer, endorsed or sanctioned by the Board of Directors, and subsequently executed under the oversight of the organization's senior management team or top executives. |
| Strategic management provides overall direction to the enterprise and is closely related to the field of Organization Studies. |
Strategic management provides overall direction to the enterprise and is closely related to the field of Organization Studies. |
| In the field of business administration it is useful to talk about "strategic alignment" between the organization and its environment or "strategic consistency". |
In the realm of business administration, discussing 'strategic alignment' between the organization and its environment, or 'strategic consistency,' proves to be beneficial. |
| According to Arieu (2007), "there is strategic consistency when the actions of an organization are consistent with the expectations of management, and these in turn are with the market and the context." |
According to Arieu (2007), strategic consistency exists when an organization's actions align with management's expectations, which, in turn, are aligned with the market and the context. |
