strategic management

includes the comparison of the threats and opportunities of the organization in the external business environment. 

Can be affected by factors like government rules and regulations, the economy, social changes, change in customer preferences, technological advancement, competition, and other environmental factors.

The outcomes of the planned functions and it should lead to the fulfillment of the company's mission.

Broad master plan expressing how a company will accomplish its mission and objectives.

A comprehensive guideline for making decisions linking the formation and implementation of a strategy.

Taking action in order to attain the goals of the organization.  It requires organizing all the available and necessary resources to put the strategy into action.

It requires an evaluation of the strategy to ascertain whether the actual outcome matches the expected outcome of the organizational goals.  The company can decide to take different corrective actions to control the shortcomings (if any) and help the strategy to meet the desired organizational goals and objectives.

Gives a picture about what an organization must get into immediately to maximize opportunities and overcome threats.  Helps management to emphasize and concentrate on priorities that can influence an organization's resource potential and core competencies to achieve what may seem unachievable goals given its competitive environment

is performed to contrast the internal assets and flaws of the trade with the external prospects and dangers

The generation of long-term plans for the proper management of environmental openings and fears considering the fortes and faintness of the business or the company.

An organization's purpose or the reason for its survival and how it is serving the society